MARKET DEVELOPMENT
AEC Still Main Priority Besides TPP, Says Mustapa
AEC Still Main Priority Besides TPP, Says Mustapa
07/12/2015 (Bernama) - The ASEAN Economic Community will still remain the main priority for Malaysia although the country has decided to join the Trans-Pacific Partnership Agreement (TPPA), says International Trade and Industry Ministry.
Its Minister, Datuk Seri Mustapa Mohamed, said ASEAN would still be number one in the country's priority list in terms of economy and politics.
"Malaysia has already established free trade agreements (FTAs) with most countries involved in the TPP discussions.
"ASEAN would be our principle. Our priority is still to be aligned with ASEAN," he said when addressing students of institutions of higher learning at the National Undergraduates Leadership Conference here Saturday.
Mustapa said ASEAN comprised of 10 countries while TPP had four countries out of 12 countries, which are important to Malaysia namely the United States of America, Canada, Mexico and Peru.
"We are attracted to countries which we don't have any FTA yet.
"We will gain greater market access through new markets such as Mexico and Canada," he said, adding that Malaysia would benefit in terms of gaining access for its auto components and palm oil into Canada.
Besides, Mustapa said Malaysian companies operating in TPP countries would also be able to access better facilities.
"The ASEAN Economic Community is here to stay and the TPP will be an improvement to our trade network," Mustapa added.
Its Minister, Datuk Seri Mustapa Mohamed, said ASEAN would still be number one in the country's priority list in terms of economy and politics.
"Malaysia has already established free trade agreements (FTAs) with most countries involved in the TPP discussions.
"ASEAN would be our principle. Our priority is still to be aligned with ASEAN," he said when addressing students of institutions of higher learning at the National Undergraduates Leadership Conference here Saturday.
Mustapa said ASEAN comprised of 10 countries while TPP had four countries out of 12 countries, which are important to Malaysia namely the United States of America, Canada, Mexico and Peru.
"We are attracted to countries which we don't have any FTA yet.
"We will gain greater market access through new markets such as Mexico and Canada," he said, adding that Malaysia would benefit in terms of gaining access for its auto components and palm oil into Canada.
Besides, Mustapa said Malaysian companies operating in TPP countries would also be able to access better facilities.
"The ASEAN Economic Community is here to stay and the TPP will be an improvement to our trade network," Mustapa added.