Malaysia ratifies trans-Pacific trade pact

Malaysia ratifies trans-Pacific trade pact

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. 


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