TPP might be sealed in February, reveals Najib

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Source: The Malaysian Insider

tppa_graphic_bahasa_101015The Trans-Pacific Partnership (TPP) could be sealed in New Zealand in February, said Prime Minister Datuk Seri Najib Razak.

He said this was stated by New Zealand’s Prime Minister John Phillip Key during a bilateral meeting on the sidelines of the 23th Asia-Pacific Economic Cooperation (Apec) Leaders Summit in Manila.

“Key also informed me that there is a possibility that this agreement will be signed in New Zealand in early February if, in the context of Malaysia, parliament were to give its approval,” he said.

He was speaking to reporters after the 12 TPP member countries met for the first time after the trade pact’s text was made public.

The meeting was hosted by US President Barack Obama.

Najib, who is also finance minister, said he outlined Malaysia’s ratification process to the New Zealand prime minister.

Najib said the government would continue to step up engagements with stakeholders until the TPP was debated in Parliament in January so that everyone would understand the opportunities and challenges under the trade pact.

The TPP countries account for almost 40% of the world’s gross domestic product and a third of global trade.

Apec comprises 21 members, namely Australia, Brunei, Canada, Chile, China, Hong Kong-China, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Russia, Singapore, Taipei, Thailand, United States, and Vietnam.

Twelve of them are TPP members.

Apec members who are not in TPP are China, Hong Kong, Indonesia, South Korea, Papua New Guinea, Philippines, Russia, Taiwan and Thailand. – Bernama, November 18, 2015.