TPPA

Trans-Pacific Partnership Agreement (TPPA) negotiations was participated by 12 countries. We will see more nations working towards trade liberalisation, free markets that will give benefit the participating nations.

By reducing trade barriers, TPPA will provide Malaysia-owned businesses wider access to international markets and it will strengthen the country’s economic growth. The negotiated agreement will provide local businesses with the first Free-Trade Agreements between Malaysia and US, Canada, Mexico and Peru, in addition to enhancing access to eight other markets. They also will have opportunities to participate in government acquisition in TPPA member countries. Indirectly, it promotes competitive neutrality and a level playing field among TPPA members.

Furthermore, it can give benefit in Malaysia’s textiles, apparel, commodities and the electronic industry. Malaysian SMEs will have accelerated growth opportunities as the multilateral trade agreement will enable improved uniformity for selected regulations and harmonised standards in several areas.

Malaysia currently is the third largest recipient of foreign direct investment (FDI) in Asean and TPPA provides Malaysia a competitive edge among Asean countries to enhance futher investment.

Malaysia has established strong foundations in technology, ecommerce and financial services. TPPA will boost Malaysia’s vision of becoming an ecommerce and high-tech hub within the region. It can help  Malaysian SME’s to better participate in the global marketplace.

The TPPA is a historic multi-lateral trade agreement and a significant milestone to US- Malaysia relations benefitting both countries.