Survey reveals more than 40 pct of businesses see TPP as beneficial

Edelman Malaysia's market survey has revealed that more than 40 per cent of businesses opined that the Trans-Pacific Partnership (TPP) will be quite beneficial for the country's economic growth.

Conducted between Oct 7-9, the survey also showed that the balance of the respondents were sceptical and concerned about the potential price fluctuation of products and services with the introduction of the TPP, it said in a statement today.

The insights derived from the survey suggested that the TPP is a topic that people care about, and that they are much more receptive to its benefits.

"Malaysian are open to the idea of the TPP and its potential and social reforms, while improving cross-border relations and higher foreign direct investment," it said.

Managing Director Robert Kay said the recent polling showed that the TPP had been widely received from a business standpoint, but not from a consumers perspective.

"Even if the pact is then slowly rolled out over the next 10 years, everyone should start reviewing their reputations and business operations.

"All member markets have different priorities domestically and should play an active role by analysing and adopting the right business strategies to fully capitalise on the opportunities," he added.

Since the announcement of the agreement on Oct 5, general commentary across the 12-member TPP nations, has focused on the challenges around the required ratification by each.