Khazanah, Petronas mostly ‘exempted’ from TPP, says minister

Source: The Malaysian Insider

Malaysian state fund Khazanah Nasional and state energy firm Petronas will be largely exempted from Trans-Pacific Partnership (TPP) regulations, as Malaysia is ready to allow some exceptions, International Trade and Industry Minister Datuk Seri Mustapa Mohamed said today.

Malaysia was one of 12 nations that finalised the trade pact with the United States. The TPP aims to liberalise commerce across nations accounting for 40 percent of the world’s economy but still needs ratification by each country.

It was not immediately clear how Khazanah and Petronas would be exempted, or what exceptions might be made, with discussions to be held with company boards in coming days. Parliament will debate the TPP after it reconvenes on October 19. Read more