Malaysia ratifies trans-Pacific trade pact
published : 5 Oct 2022 at 15:50
KUALA LUMPUR: Malaysia's cabinet has agreed to ratify the Comprehensive And Progressive Agreement For Trans-Pacific Partnership (CPTPP), the trade ministry said in a statement on Wednesday.
"The CPTPP places Malaysia in a strategic position, elevating our competitiveness in the global arena," the ministry said.
CPTPP is a free trade agreement that links Canada, Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. Thailand is not a member.
The pact removes 95% of tariffs between its 11 members.