Malaysia's Logistics And Shipping Sector To Grow 5 Per Cent Under TPP In Long Run

PETALING JAYA (Selangor, Malaysia), Jan 27 (Bernama) -- The Malaysia's logistics and shipping sector is expected to grow five per cent under the Trans-Pacific Partnership (TPP) in the long run. Port support services company Tumpuan Megah Development Sdn Bhd said there would not be much growth over the next few year, but the industry would eventually adapt to the new environment and generate a five per cent growth. Its managing director, Dr Jason Goh Tech Chai said the TPP would have a positive impact on the logistics and shipping sector in the long run, benefitting from red tape reduction. "With liberalisation (of the sector), there is a system that we need to adhere to," he told reporters on the sidelines of the 18th Malaysia Strategic Outlook Conference 2016 themed 'Coping with Uncertainty - The Way Forward in Difficult Times', here Tuesday. He said many people had yet to understand what the TPP Agreement (TPPA) was all about and they needed to understanding the trade pact and support it. "The TPPA is only a start, it is a long process and I think liberalisation (of the sector) would bring good (prospects) to the country," he said. Goh hopes the government would take measures in curbing the weak ringgit so that small and medium enterprises would be able to increase their exports and imports. Tumpuan Megah Development Sdn Bhd is a fledgling player in Malaysia's vast oil bunkering services sector. --BERNAMA