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TPP may be sealed in NZ in February, says Najib

November 18, 2015

The government will continue to engage stakeholders until the TPP is debated in Parliament in January so that everyone understands the trade pact, says the prime minister.

tpp

MANILA: The landmark Trans-Pacific Partnership (TPP) Agreement could be sealed in New Zealand in February, Prime Minister Najib Razak said.

He said this was stated by New Zealand’s Prime Minister John Phillip Key during a bilateral meeting on the sidelines of the 23th Asia-Pacific Economic Cooperation (APEC) Leaders’ Summit here.

“John Key also informed me that there is a possibility that this agreement will be signed in New Zealand in early February if in the context of Malaysia, parliament were to give its approval,” he said.

He was speaking to reporters after the 12 TPP member countries met for the first time after the trade pact’s text was made public.

The meeting was hosted by President Barack Obama.

Najib, who is also finance minister, said he outlined Malaysia’s ratification process to the New Zealand prime minister.

Najib said the government would continue to step up engagements with stakeholders until the TPP is debated in Parliament in January so that everyone would understand the opportunities and challenges under the trade pact.

The TPP countries account for almost 40 per cent of the world’s gross domestic product and a third of global trade.

APEC comprises 21 members, namely Australia, Brunei, Canada, Chile, China, Hong Kong-China, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Russia, Singapore, Taipei, Thailand, United States, and Vietnam.

Twelve of them are TPP members.

APEC members who are not in TPP are China, Hong Kong, Indonesia, South Korea, Papua New Guinea, Philippines, Russia, Taiwan and Thailand.

– BERNAMA


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