TPPA To Boost Marts, Reduce Tariffs And Promote Freer Trade Among Members, Says JCCI

KUALA LUMPUR, Feb 5 (Bernama) -- The Trans-Pacific Partnership Agreement (TPPA), which was signed in Auckland Thursday, is set to expand markets, reduce tariffs and promote freer trade among its 12 members. Japan Chamber of Commerce and Industry (JCCI) Chairman, Dr Akio Mimura, said the TPPA would attract investments and exports to the US. "The trade pact also allows seamless trade between the 12-member countries under a uniformed standard, which is also subjected to lower tariff. "The TPPA has a high degree of liberalisation, governance, protection and custom clearance. Transparency is also assured under the trade pact," he told a media briefing on the JCCI's economic mission to Malaysia here Thursday. The JCCI, which is on a three-day mission to Malaysia, organised a half-day Malaysia-Japan Economic Forum, which was attended by 180 Japanese and Malaysian participants. Mimura also reiterated Japan's interest in the Kuala Lumpur-Singapore high-speed rail project. "Japan has a good track with its Shinkansen line, which was introduced in 1964 and without any fatal accident," he said. Mimura also led a delegation to meet Prime Minister Najib Razak, who is also Finance Minister, in federal administrative capital of Putrajaya. -- BERNAMA