Amidst reluctant traders, RCEP makes progress thesundaily CPTPP RCEP Trade Malaysia Protectionism Tariff
: For almost two years now, the conflict between the United States and China has dominated the trade scene bringing about disruption in the global value chain, economies and uncertainties in the financial markets, including Malaysia.
Closer to home, the struggle to eliminate NTBs remains a major challenge in Asean, the 10-member countries trade pact of 650 million population. “If you want to be listened , you must be very powerful, strong or very rich, otherwise, nobody listens to you. If we function as a regional organisation, as Asean, then we have more people to argue in our favour in these forums and when we have more people, we can attend all the meetings and express our views.
The CPTPP is a trade agreement between Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. The 11 countries represent 13.4% of the global gross domestic product .The agreement came into force with eight out of 11 countries having ratified the trade deal, namely Mexico, Japan, Singapore, New Zealand, Canada, Australia, Vietnam and Chile.
“It is the government’s responsibility that every Free Trade Agreement signed by the Malaysian government emphasises free and fair trade, in line with the government’s aspiration in implementing national development policies for economic benefits that can be distributed to target groups.”
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