TPP seen lifting logistics firms in S'pore

LOCAL logistics firms are in good stead to profit from the Trans-Pacific Partnership (TPP) but have to familiarise themselves with the new trade rules for the full benefits to be realised, says the chief executive of US-based BDP International, Richard Bolte.

The recently concluded TPP agreement involves 12 Pacific Rim countries and effectively creates the world's largest free trade area. Among the 12 are the United States, Japan, Singapore, Malaysia, Vietnam, New Zealand, Canada, Australia and Mexico.

The 12-country bloc collectively covers some 800 million people and a combined GDP of around US$30 trillion, accounting for about 40 per cent of the global economy.