HSBC: TPPA Signing Timely As World Economy Needs A Boost

KUALA LUMPUR, Feb 5 (Bernama) -- The signing of the Trans-Pacific Partnership Agreement (TPPA) is a huge step forward by policy-makers at a time when the world economy needs a boost, said HSBC Bank Malaysia Bhd. Chief Executive Officer Mukhtar Hussain said the deal enables more enterprises around the Asia-Pacific region to join the international economy while businesses and consumers benefit from greater choice, as well as, competition on pricing and quality. "Financing international trade is central to HSBC’s business model, so we support ambitions for a new and comprehensive deal to boost trade and investment flows across the Asia-Pacific region. "We also support a more seamless trade and investment environment across the region that allows for the smoother flow of goods, services, capital and people," he said in a statement. Mukhtar said the trade pact would generate more economic activity, raise living standards, create business opportunities, and give entrepreneurs an opportunity to flourish. The TPPA also creates the potential for rising incomes and living standards in developing economies across the Asia-Pacific region as it would multiply the potential market for every commodity, manufacturer, service, and technology. -- BERNAMA