Thursday, December 8

TPP to open up new market opportunities and horizons for Malaysians, says FMM

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KUALA LUMPUR: The Federation of Malaysian Manufacturers (FMM) is of the view that the Trans Pacific Partnership (TPP) would open up new market opportunities and horizons for Malaysians to take advantage of the international marketplace, says FMM president Tan Sri Yong Poh Kon.

“Consultations with FMM members have revealed an increasing need for more open markets and trade facilitative measures.

“A successful TPP is top priority for Malaysian businesses as the sooner it is agreed upon and implemented, benefits can be realised earlier,” he said at a press conference here yesterday.

Yong also urged the government to step up negotiations to realise the successful completion of the TPP this year.

The TPP has been identified as one of the pathways for a free trade agreement for the Asia Pacific.

Hence, it will allow Malaysia to continue to be an integral part of the deepening economic integration taking place within the Asia Pacific region and enables the country to participate as an important link in the whole regional supply chain.

“Malaysian products have met world standards and are able to compete at the global level while Malaysian companies are also increasingly becoming global investors.

“Local companies that export to the US and Canada are increasingly interested to see the TTP negotiations concluded, especially since the graduation of Malaysia from the list of countries that enjoy from the General System of Preferences (GSP),” he added. — Bernama