Trans-Pacific Partnership Agreement (TPPA) is a multilateral free trade agreement that is currently participated by 12 countries with a combined market of 793 million people and GDP of USD27.5 trillion. TPPA would eventually be the largest free trade bloc in the world, and participating countries include some of the world’s most robust economies and represents more than 40% of global trade. Malaysia joined the TPPA negotiation in 2010 and it is now scheduled to be completed by October 2013.
The idea of free trade is important to a trading nation like Malaysia. ACCCIM recognizes the possible main benefits of a comprehensive free trade agreement for the Asia Pacific region for Malaysian companies when they seek to expand market access opportunities and for Malaysia to attract foreign investments. ACCCIM is of the views that that the Government need to ensure that the costs to Malaysia will not outweigh the benefits.
Some main concerns:
(a) TPPA is highly confidential and there is no cost and benefit analysis made available.
(b) It is reported that 14 chapters have been concluded but there is no available information from MITI on what have been discussed and agreed in the negotiations.
(c) A restrictive approach of Rules of Origin may exclude products manufactured from non TPP country, particularly China...........
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