TPP to discuss extending membership in 2018

Source: The Rakyat Post

TPPA - TRP file pic
TPPA – TRP file pic

KUALA LUMPUR, Feb 20, 2016: The interest shown by several countries in joining the Trans-Pacific Partnership (TPP) will only be deliberated in 2018, the earliest date the trade pact is expected to come into force.

International Trade and Industry Ministry deputy secretary-general (strategy and monitoring) Datuk J. Jayasiri said the process of their inclusion in the accession negotiations would only be decided after the TPP came into force.

“The agreement could come into force by 2018 or after a minimum of six of the signatories, which made up 85% of the combined gross domestic product (2013), had ratified and notified New Zealand, the legal depository and administrator of the TPPA,” he told Bernama.

Jayasiri, who is also Malaysia’s chief negotiator for the TPP Agreement, was met at a talk show hosted by Bernama TV.

Asean member states, namely Indonesia, the Philippines and Thailand, as well as South Korea and Taiwan, had indicated their interest to join the TPP.

The pact, which was signed in Auckland on Feb 4, was in ratification phase with the 12-member states undergoing respective domestic process in order to bring it into force.

The trade deal, which would expand markets, reduce tariffs and promote freer trade, was signed by New Zealand, Australia, Chile, Mexico, Japan, Peru, Canada, Vietnam, United States, Singapore, Brunei, and Malaysia.


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