TPP outlines areas of collaboration among members

Source: The Malay Mail Online

tppa_graphic_bahasa_101015KUALA LUMPUR, Nov 5 — Broad-based economic growth, including sustainable development, poverty reduction, and promotion of small businesses are among the three specific areas of collaboration outlined once the Trans-Pacific Partnership (TPP) comes into force.

According to the final text of the Trans-Pacific Partnership Agreement released today, the trade pact also spells out collaborative work on women and economic growth.

It said these include helping women build capacity and skills, enhancing women’s access to markets, obtaining technology and financing, establishing women’s leadership networks, and identifying best practices in workplace flexibility.

The agreement also calls for collaborative work on education, science and technology, research, and innovation.

It said a TPP Development Committee would be established and meet regularly to promote voluntary cooperative work in these areas and new opportunities as they arise. 

“The TPP parties seek to ensure that the TPP will be a high-standard model for trade and economic integration.

“This is to ensure that all TPP parties can obtain its complete benefits, fully able to implement their commitments, and emerge as more prosperous societies with strong markets,” it added.

The TPP is a high-standard, comprehensive regional Free-Trade Agreement (FTA) that will boost trade and investment flows between the countries concerned as well as integrate the region into a single manufacturing base and market.

After five years of negotiations, Malaysia and 11 other countries, namely Australia, Brunei Darussalam, Canada, Chile, Japan, Singapore, Mexico, New Zealand, Peru, the US and Vietnam, concluded negotiations for the TPP on Oct 5 in Atlanta, the US.

International Trade and Industry Minister Datuk Seri Mustapa Mohamed said the TPP Agreement would be tabled in Parliament in January of February next year. — Bernama


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