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    CPTPP: Comprehensive and Progressive Agreement For Trans-Pacific Partnership

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    Sarah Steven
    The CPTPP is a free trade agreement between 11 countries in the Asia-Pacific region representing nearly 15% of global GDP. It aims to reduce tariffs and barriers to trade between member countries. While the original agreement included the US, its withdrawal led the remaining 11 countries to pursue the CPTPP. For Malaysia, ratifying the agreement could increase trade but may negatively impact certain domestic industries and social groups. As a result, the new Malaysian government has so far hesitated to ratify the CPTPP.

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    CPTPP: Comprehensive and Progressive Agreement For Trans-Pacific Partnership

    Uploaded by

    Sarah Steven
    126 views7 pages
    The CPTPP is a free trade agreement between 11 countries in the Asia-Pacific region representing nearly 15% of global GDP. It aims to reduce tariffs and barriers to trade between member countries. While the original agreement included the US, its withdrawal led the remaining 11 countries to pursue the CPTPP. For Malaysia, ratifying the agreement could increase trade but may negatively impact certain domestic industries and social groups. As a result, the new Malaysian government has so far hesitated to ratify the CPTPP.

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    CPTPP

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    CPTPP

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    The CPTPP is a free trade agreement between 11 countries in the Asia-Pacific region representing nearly 15% of global GDP. It aims to reduce tariffs and barriers to trade between member countries. While the original agreement included the US, its withdrawal led the remaining 11 countries to pursue the CPTPP. For Malaysia, ratifying the agreement could increase trade but may negatively impact certain domestic industries and social groups. As a result, the new Malaysian government has so far hesitated to ratify the CPTPP.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    126 views7 pages

    CPTPP: Comprehensive and Progressive Agreement For Trans-Pacific Partnership

    Uploaded by

    Sarah Steven
    The CPTPP is a free trade agreement between 11 countries in the Asia-Pacific region representing nearly 15% of global GDP. It aims to reduce tariffs and barriers to trade between member countries. While the original agreement included the US, its withdrawal led the remaining 11 countries to pursue the CPTPP. For Malaysia, ratifying the agreement could increase trade but may negatively impact certain domestic industries and social groups. As a result, the new Malaysian government has so far hesitated to ratify the CPTPP.

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    CPTPP

    COMPREHENSIVE AND PROGRESSIVE AGREEMENT


    FOR TRANS-PACIFIC PARTNERSHIP
    - 11 COUNTRIES WILL FORM A
    TRADING BLOC
    -Free trade agreement (international
    - REPRESENTING 495 MILLION
    agreement between two or more
    CONSUMERS AND 13.5% OF
    countries to reduce or remove trade
    GLOBAL GDP, APPROXIMATELY
    barriers and bring closer economic
    USD$13.5 TRILLION
    integration.)
    - THIRD LARGEST FREE-TRADE AREA
    -Canada, Australia, Brunei, Chile, IN THE WORLD BY GDP AFTER THE
    Japan, Malaysia, Mexico, New NORTH AMERICAN FREE TRADE
    Zealand, Peru, Singapore and Vietnam AGREEMENT AND EUROPEAN
    SINGLE MARKET (AT THE TIME
    SIGNING-ONCE RATIFIED)
    - Started as TTP – Trans Pacific
    Partnership THE CPTPP ENTERED INTO
    FORCE ON 30 DECEMBER
    - Signed by 12 countries including 2018 FOR:
    USA on 4 February 2016
    - AUSTRALIA
    - January 2017, the United States
    withdrew from the agreement - CANADA
    - JAPAN
    -Other 11 TPP countries agreed in - MEXICO
    May 2017 to revive it and reached
    agreement in January 2018. In - NEW ZEALAND
    March 2018, the 11 countries - SINGAPORE
    signed the revised version of the - VIETNAM (ON 14 JANUARY
    agreement, called Comprehensive 2019)
    and Progressive Agreement for
    Trans-Pacific Partnership
    Future possible members IF CHINA JOINS
    - THE TOTAL VALUE OF
    TRADE BETWEEN CHINA
    Status 2016 Announced
    Country
    agreement Interest AND OTHER CPTPP
    United States
    Former TPP
    January 2018
    MEMBERS WOULD ALSO
    signatory
    INCREASE BY OVER 50 PER
    Taiwan Non TPP signatory 2016
    CENT
    United Kingdom Non TPP signatory January 2018
    - COULD LEAD TO US$298
    Colombia Non TPP signatory 2018 BILLION IN ADDITIONAL
    INCOME GAINS OF CHINA
    Indonesia Non TPP signatory 2018
    BY 2030
    South Korea Non TPP signatory 2018
    - DOESN’T SIGNIFICANTLY
    Thailand Non TPP signatory 2018 IMPACT MALAYSIA AS WE
    ALREADY HAVE FTA WITH
    CHINA
    Benefits of Free Trade Agreement (FTA)

    - FTA offers lower or zero tariff (tariff


    concession) on exports and imports of MALAYSIA HAS ALREADY SIGNED
    goods and components assigned under AND IMPLEMENTED 7 BILATERAL
    FTA. This would make products more FTAS WITH JAPAN, PAKISTAN,
    competitive, as compared to exports and INDIA, NEW ZEALAND, CHILE,
    imports from non-FTA partner countries AUSTRALIA AND TURKEY.
    WHILE AT THE ASEAN LEVEL,
    -More relaxed or removal of quantitative
    MALAYSIA HAS 6 REGIONAL FTAS
    import restrictions
    WITH ASEAN FREE TRADE
    AGREEMENT (AFTA), CHINA,
    -Hassle-free custom procedures
    KOREA, JAPAN, AUSTRALIA, NEW
    ZEALAND AND INDIA.
    -Improve market access for various services

    -Easier entry for investors


    Why Malaysia haven’t ratify
    CPTPP? EXIT OF THE US FROM THE TPP-12 IS A
    - new administration formed after BIG LOSS FOR MALAYSIA AS IT IS THE
    MAIN SOURCE FOR MALAYSIA’S
    the 14th General Elections in May POTENTIAL EXPORT GAINS IN TERMS OF
    2018 MARKET ACCESS SINCE THERE IS NO
    - Distributional impact of the BILATERAL AGREEMENT BETWEEN THE
    CPTPP that holds back the TWO COUNTRIES
    ratification - the fear that
    ratification and the ensuing
    SO, COMPREHENSIVE AND
    opening up of the economy as PROGRESSIVE AGREEMENT FOR TRANS-
    well as better governance, will PACIFIC PARTNERSHIP (CPTPP) (OR
    adversely affect the Bumiputeras TPP-11) THAT REPLACED THE TPP-12 IS
    and heighten racial tensions in THEREFORE CONSIDERABLY LESS
    the country ATTRACTIVE TO MALAYSIA.
    SHOULD
    WHAT DO YOU
    THINK ? MALAYSIA
    RATIFY
    CPTPP?

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