CPTPP will not negatively impact Malaysia's agro sector: official
Malaysian Deputy Trade and Industry Minister (MITI) Liew Chin Tong on March 1 affirmed that the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will not negatively impact the country's agricultural sector.
Malaysian Deputy Trade and Industry Minister (MITI) Liew Chin Tong says the CPTPP, which came into effect for Malaysia in November 2022, could guarantee the rights and interests of local farmers as it was the only free trade agreement (FTA) signed by Malaysia to recognise food security issues.(Photo: BERNAMA)
Kuala Lumpur (VNA) 🍌– Malaysian Deputy Tradeand Industry Minister (MITI) Liew Chin Tong on March 1 affirmed that the Comprehensive andProgressive Agreement for Trans-Pacific Partnership (CPTPP) will not negativelyimpact the country's agricultural sector.
The Deputy Minister said the CPTPP will protect theinterest of local farmers as it was one of the few free trade agreements whichrecognised the issue of food security. It will also not jeopardise subsidiesmeant for agriculture exports. He asserted that the CPTPP will not allow the governmentto implement bans on basic food exports such as chicken is not true and addedthat it will also not result in the sudden eradication of import duties onagricultural products. Liew noted Malaysia heavily depends on food imports,with 50% of food imported, including mutton and beef. In 2020, the average import duty foragricultural products was 13.8% and it further declined to 7.9% in 2021. At thesame time, Malaysia has been given a longer staging period of 16 years toreduce and eradicate import duties, including those on agricultural products. The country does not need to eradicatefully its import duties for chickens and eggs under the CPTPP, and it can stillmaintain the tariff rate quota system, he added./.
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Malaysian Deputy Trade and Industry Minister (MITI) Liew Chin Tong says the CPTPP, which came into effect for Malaysia in November 2022, could guarantee the rights and interests of local farmers as it was the only free trade agreement (FTA) signed by Malaysia to recognise food security issues.(Photo: BERNAMA) 
