Friday 29 Mar 2024
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KUALA LUMPUR (Jan 25): Prime Minister Datuk Seri Najib Tun Razak said the Malaysian economy stayed strong and dynamic, despite the U.S.' decision to exit from the Trans-Pacific Partnership (TPP) agreement, as Malaysia had established trade links with major economies like China, Japan and India.

As such, Malaysia need not be discouraged, following the U.S.' TPP exit decision and if the TPP does not materialise, Najib wrote in najibrazak.com yesterday. 

The 12-nation TPP trade deal had intially comprised Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the U.S. and Vietnam.  

Following the U.S.' exit decision, Najib said Malaysia would hold a meeting with the other 10 countries to discuss the direction for the remaining nations under the TPP.

“No matter what the outcome of the meeting is, I wish to explain here that we do not have to worry about the state of the Malaysian economy, if the TPP agreement does not materialise.

“Even without the TPP agreement, our economy is able to remain strong, dynamic with full of potential and opportunities with existing trading partners,” he said.

According to Najib, Malaysia, through its International Trade and Industry Ministry, is also studying the possbility of free trade agreements with some TPP members.

Furthermore, Malaysia will also continue its effort to finalise the Regional Comprehensive Economic Partnership, which include China and India, he said.

“God willing, I am confident that through these measures and other ongoing effort, our economy, especially segments related to foreign trade and investment, will continue to be competitive. Malaysia remains open for business," he said.

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