Media Statement: Malaysia Welcomes Canada Into The Trans-Pacific Partnership (TPP) Negotiations
21 Jun 2012 08:57 AM

On 19 June 2012, the nine (9) Trans-Pacific Partnership (TPP) members unanimously accepted Canada into the TPP negotiations. This follows eight (8) months of bilateral consultations between Canada and the 9 members. Canada is the 11^th country to join the negotiations after Mexico was accepted on 18 June 2012.

 Canada, like Mexico, will only be able to participate formally after all the current members have undertaken their domestic procedures.

 Dato’ Sri Mustapa Mohamed, Minister of International Trade and Industry Malaysia said “Malaysia welcomes the inclusion of Canada into the TPP. Malaysia regards Canada as an important trading partner and source of foreign investment for Malaysia. It is hoped that through the TPP, bilateral trade and investment flows will increase.”

 Malaysia’s trade with Canada has been on a growing trend since 2000 from US$1.18 billion to US$1.82 billion in 2011. Canada is an important market for furniture & parts, telecommunication equipment, non-textiles clothing, electrical switcher relays and circuits and automatic data processing equipment.

Canada’s participation in the TPP will enlarge the TPP market for Malaysia. In 2011, trade with the TPP participating countries including Mexico and Canada was valued at RM355.2 billion or 27.8 percent of Malaysia’s global trade for that year.

The inclusion of Canada and Mexico is a positive step towards deeper economic integration within the Asia-Pacific region. Dato’ Sri Mustapa Mohamed said “It is Malaysia’s hope to see other Asia-Pacific countries that are ready to accept the high scope and ambition of the TPP join this initiative. Malaysia hopes that Japan can also join the negotiations. As an important economy in the region, the participation of Japan will certainly add value to the TPP.”  

To date twelve (12) Rounds of negotiations have been held. The 12th Round was held from 8 – 18 May 2012 in Dallas, US. Three more rounds have been planned for the year, with the next one scheduled for 1-10 July in San Diego, United States.

The current participants in the negotiations are Australia, Brunei, Chile, New Zealand, Peru, Singapore, United States and Viet Nam. Malaysia joined the negotiations on 5 October 2010.

Ministry of International Trade and Industry
Kuala Lumpur, Malaysia
20 June 2012