09-20-2021, 05:30 PM
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KUALA LUMPUR – As one of the pioneer members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Malaysia is looking forward to welcoming economic powerhouse China into the fold, anticipated to be as early as next year.
“The International Trade and Industry Ministry (Miti) is particularly encouraged with the recent move by China to formally apply for accession into the CPTPP,” the ministry said.
In February this year, the United Kingdom became the first country outside the Asia-Pacific belt to formally request for accession into the CPTPP.
Within a span of seven months, the CPTPP has received another accession request, demonstrating the significant value of the agreement and its attraction to countries within and beyond the Asia-Pacific region, the ministry said.
Widely regarded as the gold standard for regional trade agreements, the CPTPP offers immense economic opportunities for both Malaysia and China, it added.
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