Malaysia’s upper house on January 28 approved a motion to allow the country’s International Trade and Industry Minister Mustapa Mohamed to sign the Trans-Pacific Partnership deal In New Zealand.
Kuala Lumpur (VNA)🅺 – Malaysia’s upper house on January 28 approved a motion to allow the country’s International Trade and Industry Minister Mustapa Mohamed to sign the Trans-Pacific Partnership (TPP) deal In New Zealand on February 4.
The motion was passed with voice votes from the 67 member of the upper house.
On January 27, the parliament’s lower house approved the deal with 127 votes in favour and 84 against.
The TPP negotiations started in 2005 and concluded in late October last year. The 12 members of the agreement are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US and Vietnam.
Once it takes effect, the agreement will establish a free trade zone that represents nearly 40 percent of global GDP.-VNA
The US, Singapore, Peru, Mexico and Australia have raised optimistic voices over the recently completed Trans-Pacific Partnership (TPP) agreement, to which they are members.
Once ratified by member country parliaments, the newly-reached Trans-Pacific Partnership agreement will open up a new road to the future of cooperation and integration in the region.
Leaders of the 12 Trans-Pacific Partnership member countries adopted a Joint Statement demonstrating their strong commitment to pushing ahead with the signing, ratification, and execution of the pact.
Malaysia’s Ministry of International Trade and Industry (MITI) is focusing on disseminating information on the Trans-Pacific Partnership (TPP) agreement to the public.
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Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
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Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
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Illustration photo. (Source: AP)
