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.
Malaysian Minister of International Trade and Industry Datuk Seri Mustapa Mohamed (Source: http://www.thesundaily.my/)
Malaysia will also prioritise strengthening the economic integration within ASEAN as well as pushing for the conclusion of the Regional Comprehensive Economic Partnership (RCEP), he stated.
Previously, when attending the annual meeting of the World Economic Forum in Davos, Switzerland from Jan. 17-20, Mustapa raised his voice against a number of countries’ support for protectionism, stressing that Malaysia remains open for business and investment.
Immediately after the enthronement of new US President Donald Trump on January 20, the new administration informed that the country will withdraw from the TPP.
TPP includes Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US and Vietnam.
If the agreement comes into full force, it will account for an enormous 40 percent of the global economy. It will help remove a great number of tariff barriers and ensure rights of labourers in member nations. The deal is forecast to contribute 300 billion USD to the world’s GDP each year.-VNA
You should also see
World economy’s recovery drives Vietnam’s exports
With the recovery of the world market and increasing orders, Vietnam's import and export activities in the first quarter of 2024 prospered and achieved positive results.
See more
World
Indonesia’s coffee exports surpass imports
Indonesia’s coffee exports have surpassed imports for 47 consecutive months since May 2020, the Central Statistics Agency (BPS) has reported.
World
Thailand expects wave of tourists during Golden Week
The Tourism Authority of Thailand (TAT) estimates that about 996,000 foreign tourists will visit the Southeast Asian country between April 26 and May 5, known as the Golden Week holidays in Japan, during which Chinese tourists also prefer to travel overseas.
World
Argentinian media praises Dien Bien Phu Victory
Argentinian newspapers have called Vietnam's Dien Bien Phu Victory (May 7, 1954) a symbol of the national liberation movement of oppressed and colonialised peoples worldwide.
World
Laos speeds up granting licences to foreign workers
Laos's Ministry of Labour and Social Welfare plans to issue visas to illegal foreign workers and extend permits to legal ones so that they can continue to work in the country.
World
Argentinian scholar praises Vietnam’s April 30, 1975 victory
The complete reunification of Vietnam on April 30, 1975 was an extremely significant event in the history of the country and the world, opined a scholar from the Institute for International Relations at the National University of La Plata, Argentina.
