Azmin: CPTPP cost-benefit analysis to be presented to Cabinet soon

KUALA LUMPUR: The cost-benefit analysis (CBA) for the ratification of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has been completed in February 2022 and would be presented to the Cabinet in the near future, said Senior Minister cum Minister of International Trade and Industry Datuk Seri Mohamed Azmin Ali.

He said the CBA document recommended appropriate solutions to address any issues or costs that may arise as a result of the implementation of the CPTPP.

"The CBA also takes into consideration the impact of the COVID-19 pandemic including the capacity and measures that the government can take, in line with the Federal Constitution and national laws without violating the provision and commitment under CPTPP.

"There are seven chapters under the CBA including sectoral analysis in Chapter 5 (implications on 14 main economic sectors). While chapter 6 includes Thematic Findings for eight aspects in the CPTPP agreement," he said in Parliament in reply to a question from Charles Anthony Santiago (PH-Klang) today.

Azmin said MITI also planned to hold engagement sessions with related stakeholders to share the findings of CBA to ensure all stakeholders clearly understand Malaysia's rights and obligations under the CPTPP.

In reply to a supplementary question from Wong Hon Wai (PH-Bukit Bendera), Azmin said so far, nine out of the 14 Acts at the federal level related to CPTPP have been tabled and approved in Parliament.

"The remaining five Acts are still in the process of amendments and are expected to be tabled in Parliament according to the schedule of the ministries concerned," he said.

The Acts and ordinances involved are the Employment Act 1955, Trade Unions Act 1959, Labour Ordinance (Sabah Chapter 67), Labour Ordinance (Sarawak Chapter 76) and the Communications and Multimedia Act 1998.

-- BERNAMA