Govt Needs More Time To Decide On CPTPP Ratification

KUALA LUMPUR, Aug 7 (Bernama) -- The government needs more time to decide whether to proceed with the domestic ratification process of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the lower house of Parliament or Dewan Rakyat was told Monday. Deputy International Trade and Industry Minister Dr Ong Kian Ming said this was to ensure that the agreement would benefit the country’s economic and trade growth so that its implementation would not have any adverse effect on the people and the nation. “There is still room for debate before we can agree on the domestic ratification, and as such, the government needs the latest update in order to make a comprehensive and accurate decision,” he said when responding to a question from Mustapa Mohamed (BN-Jeli) when winding-up debate for his ministry. Ong said so far, Japan, Singapore and Mexico had completed their ratification process, and the entry into force would take place in early 2019 if six of the 11 CPTPP member states concluded theirs. He said the CPTPP roadmap would be formulated once the domestic ratification was concluded. In addition, he said, the government would have to consider good relations with Japan as it would lead the CPTPP, while taking into account the interests of several other member states, including Thailand and Indonesia -- BERNAMA