The Trans-Pacific Partnership (TPP) is a trade and investment liberalization initiative involving nine countries - Australia; Brunei; Chile; Malaysia; New Zealand; Peru; Singapore; United States; and Viet Nam. The aim of the TPP is the creation of a Free Trade Agreement (FTA) that will enhance trade and investment among the TPP partner countries and set new standards in the conduct of global trade.
To date, nine rounds of negotiations have been held. On November 11, 2011 during the APEC Summit in Honolulu, TPP Leaders were presented with the broad outline of a draft agreement which highlights the shared aspirations and ambitions of the nine countries involved. This was achieved despite the complexity of the issues discussed and the different developmental status of the negotiating partners.
TPP members are targeting to conclude negotiations in 2012, with July 2012 as an important milestone to agree on substantially all areas. The Intersessional meeting scheduled from 5 – 9 December 2011 in Kuala Lumpur is not a full negotiating round. The meeting involves only a few selected working groups – market access, investment, services, non-conforming measures, rules of origin and intellectual property rights – and they will meet to discuss the way forward in light of the recent instructions from TPP Leaders. The negotiators will also discuss the scheduling of meetings for 2012.
It has been agreed that no stakeholder (country) sessions or media briefings will be held during the course of this week’s Intersessional meeting in Kuala Lumpur. It has also been agreed that no bilateral discussions will be held with any other country that may wish to join in the negotiations.
Benefits to Malaysia
Malaysia is strongly committed to the TPP initiative and views it as a development that will help to integrate further the economies of the Asia Pacific region. When realized, the TPP will constitute a single market of nearly half a billion people, with the potential to expand even further should countries like Japan, Canada and other APEC economies join in.
Implementation of the TPP would extend preferential trade to over 70 per cent of Malaysia’s global trade. It will allow Malaysia to do business with the US on preferential trade terms. This is important as the USA is Malaysia’s biggest trading partner and source of investment.
Some countries may also wish to use Malaysia as their base to penetrate other TPP markets. So the TPP can help to ensure that Malaysia remains an attractive production hub for value-added products and quality investments.
The TPP is now also focused on exploring ways to support the development of SMEs and integrate them into international markets. This would certainly benefit Malaysian SMEs who are increasingly looking to expand abroad.
Consultations with NGOs
The Government has made it a point to consult with various public constituencies, including NGOs, on issues of public interest, from time to time.
MITI’s most recent meetings with NGOs to discuss free trade agreements and the TPP took place in June and August. The next consultation session has been fixed for December 14.
The Government is well aware of and shares some of the concerns that have been raised by a number of NGOs concerning the TPP. Malaysia has negotiated many FTAs in the past and the Government has always been conscious of its duty to protect the interests of its citizens. This same duty of care will apply in negotiations on the TPP.
Ministry of International Trade and Industry
Kuala Lumpur, Malaysia
4 December 2011
To date, nine rounds of negotiations have been held. On November 11, 2011 during the APEC Summit in Honolulu, TPP Leaders were presented with the broad outline of a draft agreement which highlights the shared aspirations and ambitions of the nine countries involved. This was achieved despite the complexity of the issues discussed and the different developmental status of the negotiating partners.
TPP members are targeting to conclude negotiations in 2012, with July 2012 as an important milestone to agree on substantially all areas. The Intersessional meeting scheduled from 5 – 9 December 2011 in Kuala Lumpur is not a full negotiating round. The meeting involves only a few selected working groups – market access, investment, services, non-conforming measures, rules of origin and intellectual property rights – and they will meet to discuss the way forward in light of the recent instructions from TPP Leaders. The negotiators will also discuss the scheduling of meetings for 2012.
It has been agreed that no stakeholder (country) sessions or media briefings will be held during the course of this week’s Intersessional meeting in Kuala Lumpur. It has also been agreed that no bilateral discussions will be held with any other country that may wish to join in the negotiations.
Benefits to Malaysia
Malaysia is strongly committed to the TPP initiative and views it as a development that will help to integrate further the economies of the Asia Pacific region. When realized, the TPP will constitute a single market of nearly half a billion people, with the potential to expand even further should countries like Japan, Canada and other APEC economies join in.
Implementation of the TPP would extend preferential trade to over 70 per cent of Malaysia’s global trade. It will allow Malaysia to do business with the US on preferential trade terms. This is important as the USA is Malaysia’s biggest trading partner and source of investment.
Some countries may also wish to use Malaysia as their base to penetrate other TPP markets. So the TPP can help to ensure that Malaysia remains an attractive production hub for value-added products and quality investments.
The TPP is now also focused on exploring ways to support the development of SMEs and integrate them into international markets. This would certainly benefit Malaysian SMEs who are increasingly looking to expand abroad.
Consultations with NGOs
The Government has made it a point to consult with various public constituencies, including NGOs, on issues of public interest, from time to time.
MITI’s most recent meetings with NGOs to discuss free trade agreements and the TPP took place in June and August. The next consultation session has been fixed for December 14.
The Government is well aware of and shares some of the concerns that have been raised by a number of NGOs concerning the TPP. Malaysia has negotiated many FTAs in the past and the Government has always been conscious of its duty to protect the interests of its citizens. This same duty of care will apply in negotiations on the TPP.
Ministry of International Trade and Industry
Kuala Lumpur, Malaysia
4 December 2011
No announcement for today.