{"id":21775,"date":"2016-02-05T11:28:36","date_gmt":"2016-02-05T03:28:36","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=21775"},"modified":"2016-02-05T16:44:16","modified_gmt":"2016-02-05T08:44:16","slug":"the-tppa-deal-is-sealed","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/the-tppa-deal-is-sealed","title":{"rendered":"The TPPA Deal Is Sealed"},"content":{"rendered":"<p>The Trans-Pacific Partnership Agreement (TPPA) was finally inked by Malaysia and 11 other countries on February 4, 2016. The agreement is set to expand markets, reduce tariffs and promote freer trade.<\/p>\n<p>On behalf of Malaysia, Datuk Seri Mustapa Mohamed, the International Trade and Industry Minister, signed the comprehensive trade pact led by the US at a ceremony in Auckland, New Zealand last Thursday.<\/p>\n<p>The objective of the TPPA is to promote economic integration to liberalise trade and investment as well as spur economic growth and social benefits. More than 90% of the economic gains will be attributable to lower non-tariff measures.<\/p>\n<p>The landmark 21<sup>st<\/sup> century pact represents nearly 40% of global gross domestic product (GDP) worth US$30 trillion and is expected to boost Malaysia\u2019s GDP by US$107bil (RM449.5bil) to US$211bil (RM886.5bil) from 2018 to 2027.<\/p>\n<p>Investments are projected to increase by US$136bil (RM571bil) to US$239bil (RM1 trillion) over the same period, largely due to higher investment growth in textiles, construction and distributive trade.<\/p>\n<p>The pact is also expected to create new opportunities for workers and businesses, contribute to raising living standards of 800 million people, benefit consumers, reduce poverty and promote sustainable growth.<\/p>\n<p>The signing of the TPPA comes after five years and 19 rounds of tough negotiations, and Malaysia joined the pact in the third round of negotiations in October 2010.<\/p>\n<p>The 11 other countries in the TPPA are New Zealand, Australia, Chile, Mexico, Japan, Peru, Canada, Vietnam, United States, Singapore and Brunei.<\/p>\n<p><em>[<a href=\"http:\/\/english.astroawani.com\/business-news\/12-nations-including-malaysia-seal-landmark-tppa-trade-deal-92761\" target=\"_blank\" rel=\"nofollow\">Source<\/a>]<\/em><\/p>\n<h6><em>Image from The Malaysian Insider<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"<p>The Trans-Pacific Partnership Agreement (TPPA) was finally inked by Malaysia and 11 other countries on February 4, 2016. <\/p>\n","protected":false},"author":9,"featured_media":21776,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[271,216],"tags":[219],"class_list":["post-21775","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-news-updates","tag-bi"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO 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