Kuala Lumpur (VNA) – TheComprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)will come into force for Malaysia on November 29 this year, Senior Minister ofInternational Trade and Industry Mohamed Azmin Ali has said.
All amendments to the law related tothe CPTPP have been completed, he told a parliamentary session on October 6.
He said CPTPP member countries do nothave any transition period for their income threshold value, except Malaysia.
For example, the minister noted, thetransition period for Malaysia in the service sector is for nine years, thegoods sector seven years, and the construction sector 20 years.
In an announcement on October 5, theMinistry of International Trade and Industry said the Malaysian Government hadagreed to ratify the CPTPP and submit the ratification document to New Zealandon September 29.
The11-member CPTPP took effect for Australia, Canada, Japan, Mexico, NewZealand and Singapore in December 2018; Vietnam in January 2019; and Peru inSeptember 2021. Brunei and Chile are the remainders that have yet to completethe ratification process./.
All amendments to the law related tothe CPTPP have been completed, he told a parliamentary session on October 6.
He said CPTPP member countries do nothave any transition period for their income threshold value, except Malaysia.
For example, the minister noted, thetransition period for Malaysia in the service sector is for nine years, thegoods sector seven years, and the construction sector 20 years.
In an announcement on October 5, theMinistry of International Trade and Industry said the Malaysian Government hadagreed to ratify the CPTPP and submit the ratification document to New Zealandon September 29.
The11-member CPTPP took effect for Australia, Canada, Japan, Mexico, NewZealand and Singapore in December 2018; Vietnam in January 2019; and Peru inSeptember 2021. Brunei and Chile are the remainders that have yet to completethe ratification process./.
VNA
