TPPA Offers Immense Potentials To Boost Exports, Economic Growth

KUALA LUMPUR, Jan 20 (Bernama) -- The Federation of Malaysian Manufacturers (FMM) and six other groupings, which represent about 120,000 business entities, strongly support the 12-member landmark Trans-Pacific Partnership Agreement (TPPA). "It promises Malaysian companies and TPPA countries a degree of transparency and predictability in investment rules and tariff concessions," said FMM President, Saw Choo Boon. "The TPPA has immense potentials to boost exports, generate economic growth and create employment," he said. Saw said this at a joint press conference by FMM, Malaysian International Chamber of Commerce and Industry, SME Association of Malaysia and the Malay Consultative Council here Wednesday. Also present were representatives from the Malay Businessmen and Industrialists Association of Malaysia and the American Malaysian Chamber of Commerce. He said Malaysian companies were resilient and significant regional and global players. "We know they will benefit from it including broadening their range of products and diversify exports," he said. Meanwhile, The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) Deputy Secretary-General II, Michael Chai Woon Chew, said TPPA was reasonable as Malaysia was able to negotiate the best deals pertaining its policies including government procurement, Bumiputera and small and medium enterprises. "Given that we are among the four countries in ASEAN in the TPPA, Malaysia is in a better position as we are strategically located for investors to set up their businesses here. "We are cheaper compared to Singapore and Brunei in terms of cost of doing business, and better than Vietnam in terms of infrastructure, multi-culture and language, therefore we are the best to support the high-technology businesses and produce high value-added products," he said. Chai said ACCCIM was also in the midst of preparing a report on TPPA's benefits, challenges and how to overcome them. The report would be distributed to the public in two months' time, he said. -- BERNAMA