'TPP and AEC shape economic era for M'sia'
Published on: Tuesday, December 08, 2015
GEORGE TOWN: The development of the Trans-Pacific Partnership (TPP) and the Asean Economic Community (AEC) is expected to shape a new economic scenario for the country in 2016. Second International Trade and Industry Minister Datuk Seri Ong Ka Chuan said looking over current economic development, the situation would be more positive next year. "For a country heavily dependent on trade and foreign investments, Malaysia will benefit greatly from the TPP and the AEC. Malaysia's economic fundamentals are still very healthy and strong, even though in terms of perception, it is otherwise.
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"I believe that next year will be the dawn of a new scenario (in the economy) as Malaysia will be an ideal country for foreign companies to invest and set up their factories," he told reporters after opening a new library at the Tunku Abdul Rahman University College Penang (Kutar) Campus in Tanjong Bungah here Monday. Kutar president Datuk Dr Tan Chik Heok was present. Meanwhile, the government must work together to effectively inform the people of the Trans-Pacific Partnership Agreement's (TPPA) benefits, the Institute for Democracy and Economic Affairs (Ideas) says.Ideas Chief Executive Officer Wan Saiful Wan Jan said the International Trade and Industry Ministry (Miti) had so far been shouldering the burden alone while other ministries behaved as if they were unconnected to the process.Stay up-to-date by following Daily Express’s Telegram channel.
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He also said both the TPPA cost-benefit analyses by the Institute of Strategic and International Studies (ISIS) and PriceWaterhouseCoopers (PWC) did not play down concerns raised by various parties and concluded that Malaysia would benefit from the trade pact. – Bernama
