Minister Ong: Foreign Investors To Use Malaysia As 'Window' For TPP Aggrement

KUALA LUMPUR, Dec 4 (Bernama) -- Foreign investors, particularly from China, will use Malaysia as a "window" to benefit from the Trans-Pacific Partnership (TPP), an agreement that offers promising growth for exports. Malaysia's Second International Trade and Industry Minister Ong Ka Chuan said 2016 will be a very busy year for free trade liberalisation, involving ASEAN member countries and other major trade markets like the United States and China. He said over 400 free trade agreements (FTAs) signed in the past and dominated by collective agreements like the ASEAN Economic Community and the European Union, would also benefit Malaysia in the future. "Malaysia is in the AEC, as well as, China's Silk Road Economic Belt Initiative. If in January next year, the Malaysian Parliament votes to pass the Trans-Pacific Partnership (TPP)deal, we will be very strategically located. "I think, it (TPP) is not only for the benefit of local investors, as international investors are also eyeing Malaysia as a very ideal destination to invest (especially for the non-TPP member countries)," he told reporters after delivering a special address at the 10th Asia Economic Summit here Friday. Malaysia and the other 11 TPP-member countries, namely Australia, Brunei, Canada, Chile, Japan, Mexico, New Zealand, Peru, Singapore and the United States, concluded the deal two months ago. Parliament will vote on Jan 26 to decide on whether to approve or reject the TPP agreement. --BERNAMA