ID :
382765
Wed, 10/07/2015 - 05:48
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TPPA Not Expected To Come Into Force Within The Next Two Years

KUALA LUMPUR, Oct 7 (Bernama) -- The recently-concluded Trans-Pacific Partnership Agremeent (TPPA) is not expected to come into force within the next two years, said the Malaysian Ministry of International Trade and Industry. Its Secretary-General, Dr Rebecca Fatima Sta Maria, said the agreed text still has a long way before ratification, which included public display, parliamentary tabling and cost-benefit analysis. "Every country, each of them needs to go back to their constituent to get approval for the signing and subsequent to that, ratification. "It's going to be a long process," she told reporters on the sidelines of the Khazanah Megatrends Forum 2015 here Tuesday. She said the ministry was also waiting for the full text to arrive and once everything was ready, it would be made public as soon as possible. "We have nothing to hide. The important thing is we must be sure that this works for Malaysia," she said. She said the decision to sign or ratify the agreement rested on the parliament. Meanwhile, it is reported that Malaysian government-linked companies (GLCs) have matured and are ready to face the challenges brought about by the Trans-Pacific Partnership Agreement, says Khazanah Nasional Bhd Managing Director Azman Mokhtar. Azman said the current focus of the government's investment holding arm is not on protecting GLCs as they have grown strongly with the implementation of the GLC Transformation Programme 10 years ago. "Twenty-three companies in the programme have passed the protection phase and as a group they are performing well," he told reporters after the close of the Khazanah Megatrend Forum here. Azman said Khazanah always stresses that GLCs are a commercial unit that practise good governance and also have a development role. "I believe whatever alliance the government goes into, it is important for GLCs and government-owned companies to meet the performance criteria by continuing with their development role," he said. However, Azman said, it is too early to talk about the TPPA without a detailed look at the final text of the agreement. "Like everyone else, we are still waiting for the text and the announcement from the government. "Khazanah has given feedback including with our analyses," he said, adding the TPPA could benefit the nation in certain situations. --BERNAMA

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