TPPA In Ratification Phase

KUALA LUMPUR, Feb 19 (Bernama) -- The Trans-Pacific Partnership Agreement (TPPA) is now in ratification phase with the 12-member countries undergoing respective domestic process in order to bring the agreement into force. Ministry of International Trade and Industry's (MITI) Deputy Secretary-General (Strategy and Monitoring), J. Jayasiri, said the signing in Auckland on Feb 4, indicated that all 12 countries accepted the outcome of the negotiations. "Moving forward, the most important thing before the agreement can be implemented is ratification, followed by the execution of the entry into force. "Before ratification, legislative amendments may occur and the countries will have to make sure that they can implement the agreement," he said this at a TPPA post-signing briefing to the media here Friday. Jayasiri, who is also Malaysia's chief negotiator for the TPPA, said there was a possibility the agreement could come into force by 2018 or after a minimum of six of the signatories, which made up 85 per cent of the combined (2013) gross domestic product, had ratified and notified New Zealand, the legal depository and administrator of the TPPA. Malaysia has identified the legislations that required amendments and had starte consultations, he said. "The legislative amendments for TPPA will involve 20 laws and seven rules or government directives. A national committee will be formed by MITI, for the implementation and monitoring of the TPPA," he said. Jayasiri said outreach programmes were also presently conducted with target audiences -- government officials, businesses, associations, companies, non-governmental organisations and students. "MITI will engage all states representatives on our commitments and to ensure effective implementation. We will also follow-up on suggestions raised by members of Parliament in Parliament," he said. -- BERNAMA