KUALA LUMPUR (Dec 15): Malaysia is unlikely to ratify the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) within the first half of 2019 due to the significant number of laws the government has to amend, pursuant to the treaty's ratification, said the Institute for Democracy and Economic Affairs (IDEAS).

"Even with an immediate decision, ratification is unlikely to happen in the first half of 2019," said IDEAS director of research and development Laurence Todd.

At IDEAS's CPTPP: The Case for Ratification Workshop today, Todd said while Malaysia would benefit from the CPTPP, the treaty would be "modest in impacts", yet significant and would not be "transformational".

Todd opined that Malaysia will ratify the treaty, but it would be "dragging its heels" in doing so.

He said there was an opportunity cost to Malaysia being outside the treaty, because as more countries ratify the treaty, such countries would benefit from further investment and trade resulting from the deal.

"There is an opportunity cost, as of now that will widen" said Todd.

Meanwhile, Todd said while there is no cut off point for ratifying the CPTPP, it would be harder to ratify the treaty later.

"The further away you do it, the harder it will be (to ratify)," he said.