Malaysia ratifies the CPTPP

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The story "Malaysia ratifies the CPTPP" was covered 3 months ago by The Edge Markets, a news publisher based in Malaysia.

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Malaysia ratifies the CPTPP - The Edge Markets

Quick Summary:

In light of the findings of the cost-benefit analysis (CBA), it is clear that the benefits accruing from the ratification of the CPTPP far outweigh any potential costs that may arise from the implementation of this agreement, it said.“In sum, the CPTPP places Malaysia in a strategic position, elevating our competitiveness in the global arena.

It said the CPTPP GP market, excluding Malaysia, is estimated at US$1.5 trillion, with abundant opportunities in countries such as Japan (valued at US$838.7 billion), Canada (US$233 billion) and Australia (US$227.6 billion).

"The agreement allows Malaysian manufacturers to source raw materials from all CPTPP countries for purposes of fulfilling the ROO requirements and, consequently, qualifying for reduction and elimination of import duties," it said.