Joining CPTPP will help economy recover, Putrajaya told

The signing of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership in Santiago, Chile, in 2018.

“Clearly, trade and investment are suppressed at the moment,” he said, adding that “the CPTPP presents an opportunity for Malaysia to be more competitive, which is even more important in a culture of suppression”. Malaysia and 10 other countries signed the pact in March, but the Malaysian parliament has yet to ratify it.

“The agreement is potentially important for some countries in Asean because it provides a platform for integration that can then facilitate regional or global value chains,” he said. Nambiar said signing but not ratifying the CPTPP was “not a signal that foreign investors would find endearing”. “Many of the chapters in the agreement are framed to benefit major corporations rather than the people,” he said.

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