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Trans-Pacific Partnership Agreement (TPPA)
International trade is an important contributor to Malaysia 's economic growth and development. Malaysia 's trade policy is to pursue efforts towards creating a more liberalizing and fair global trading environment. While Malaysia continues to accord high priority to the rule-based multilateral trading system under the World Trade Organisation (WTO), Malaysia is also pursuing regional and bilateral trading arrangements to complement the multilateral approach to trade liberalisation.Free Trade Agreements (FTAs) are generally aimed at providing the means to achieve quicker and higher levels of liberalisation that would create effective market access between the participants of the FTA. Traditionally confined to trade in goods, with the establishment of the WTO, trade in services has been included in many FTAs. At the regional level, Malaysia and its ASEAN partners have established the ASEAN Free Trade Area. ASEAN has also concluded FTAs with China, Japan, Korea and India, as well as Australia and New Zealand. On 5 October 2015, Ministers of the 12 Trans-Pacific Partnership (TPP) countries – Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, United States, and Vietnam – announced their conclusion after 7 years of negotiations. The result is a high-standard, ambitious, comprehensive, and balanced agreement that will promote economic growth; support the creation and retention of jobs; enhance innovation, productivity and competitiveness; raise living standards; reduce poverty in our countries; and promote transparency, good governance, and enhanced labor and environmental protections. We envision conclusion of this agreement, with its new and high standards for trade and investment in the Asia Pacific, as an important step toward our ultimate goal of open trade and regional integration across the region. YB Datuk Seri Mustapa Mohamed, the International Trade and Industry Minister announced that TPPA to be tabled in Parliament for final consideration in January 2016 at a news conference at Putrajaya on 7 October 2015. For further information on TPPA, please Click: Malaysia's Free Trade Agreements/TPPA Summary of The Trans-Pacific Partnership Agreement Text of the Trans-Pacific Partnership Text of the Trans-Pacific Partnership - Annexes
Posted Date: 12 Dec 2015
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