MITI: Govt to continue with TPPA awareness campaign

Ministry of International Trade and Industry Deputy Secretary-General Datuk J Jayasiri said the government had undertaken an intensive outreach programme to inform stakeholders of the TPPA's contents as well as opportunities available once the agreement is in force.

"Miti Minister Datuk Seri Mustapa Mohamed has also announced that implementation and consultative committees would be established as part of the process to make it far reaching in respect of our stakeholders, especially small and medium and Bumiputera entrepreneurs, who would be given a lot of capacity building," he told reporters on the sidelines of the Fourth National Export Conference 2016 here today.

Jayasiri said the TPPA, signed last month, stated that all 12 members need to ratify the agreement within 24 months after the signing, for it agreement to come into force.

He said if there are still countries that do not ratify the agreement after this time, it could still be effective, given that at least six countries with a combined gross domestic product (GDP) of more than 85 per cent of the total of all TPPA members, had ratified it.

He added that the US played an integral part in ensuring the agreement comes into force as the country is the world largest economy and contributed a large chunk to the global GDP.

Mustapa had in Parliament on Monday said the TPPA could meet a dead end if US presidential candidate Donald Trump won the election.

This is due to Trump's stand which is to oppose the trade agreement. TPPA members share the view that the agreement is insignificant without the participation of the US.

Meanwhile, on export outlook, Jayasiri said it is expected to slow down this year due to the bearish outlook of the global economy, including that of China, Malaysia's largest trading partner.

"There may be pockets of growth in some areas, but then, some of our biggest trading partners are facing a slowdown," he added.