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CPTPP will give Malaysia a regional competitive edge – FMM

FMM in the News: Bernama, March 12, 2018

KUALA LUMPUR, March 12 (Bernama) -- The recently signed Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is expected to give Malaysia a competitive edge in the region and build investor confidence.

The Federation of Malaysian Manufacturers (FMM) said the agreement promises a degree of transparency and predictability in investment rules, tariff concessions and avenue to address non-tariff barriers for local manufacturers.

"The CPTPP is expected to diversify Malaysian manufactured product exports. For example, over 80 per cent of Malaysian exports of automotive parts, particularly rubber components, are expected to enjoy duty free access immediately.

"This will help Malaysian parts and components manufacturers to export to global original equipment manufacturers (OEMs) located in CPTPP countries like Mexico and become part of the global supply chain," the FMM told Bernama today.

The federation said tariff concessions agreed to by each CPTPP country would boost exports for the electrical and electronics (E&E) industry which has been a key contributor to Malaysia's export earnings.....

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