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Malaysia looks into bilateral FTAs with TPP members

Malaysia may study the possibility of pursuing bilateral free trade agreements (FTAs) with Trans-Pacific Partnership (TPP) member countries if the pact fails to be enforced, Minister of International Trade and Industry Datuk Seri Mustapa Mohamed said on January 21.
Malaysia looks into bilateral FTAs with TPP members ảnh 1Malaysian Minister of International Trade and Industry Datuk Seri Mustapa Mohamed
(Source: http://www.thesundaily.my/)
KualaLumpur (VNA) - Malaysia may study the possibility of pursuingbilateral free trade agreements (FTAs) with Trans-Pacific Partnership (TPP) membercountries if the pact fails to be enforced, Minister of International Trade andIndustry Datuk Seri Mustapa Mohamed saidon January 21.

Malaysia will also prioritise strengthening the economicintegration within ASEAN as well as pushing for the conclusion of the RegionalComprehensive Economic Partnership (RCEP), he stated.

Previously, when attending the annual meeting of the World Economic Forum inDavos, Switzerland from Jan. 17-20, Mustaparaised his voice against a number of countries’ support forprotectionism, stressing that Malaysia remains open for business and investment.

Immediately after the enthronement of new US President Donald Trump on January20, the new administration informed that the country will withdraw from theTPP.

TPP includes Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, NewZealand, Peru, Singapore, the US and Vietnam.

If the agreement comes into full force, it will account for an enormous 40 percentof the global economy. It will help remove a great number of tariff barriers andensure rights of labourers in member nations. The deal is forecast to contribute300 billion USD to the world’s GDP each year.-VNA
#Malaysia #FTAs #TPP member countries Malaysia
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