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Malaysia ratifies trans-Pacific trade pact

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Published Wed, Oct 5, 2022 · 04:37 PM
    • “The CPTPP places Malaysia in a strategic position, elevating our competitiveness in the global arena,” the trade ministry said.
    • “The CPTPP places Malaysia in a strategic position, elevating our competitiveness in the global arena,” the trade ministry said. PHOTO: REUTERS

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    MALAYSIA’S Cabinet has agreed to ratify the Comprehensive And Progressive Agreement For Trans-Pacific Partnership (CPTPP), the trade ministry said in a statement on Wednesday (Oct 5).

    “The CPTPP places Malaysia in a strategic position, elevating our competitiveness in the global arena,” the ministry said.

    CPTPP is a free trade agreement that links Canada, Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.

    The pact removes 95 per cent of tariffs between its 11 members. REUTERS

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