CPTPP to take effect for Malaysia in late November

All amendments to the law related to the CPTPP have been completed, he told a parliamentary session on October 6.

He said CPTPP member countries do not have any transition period for their income threshold value, except Malaysia.

For example, the minister noted, the transition period for Malaysia in the service sector is for nine years, the goods sector seven years, and the construction sector 20 years.

In an announcement on October 5, the Ministry of International Trade and Industry said the Malaysian Government had agreed to ratify the CPTPP and submit the ratification document to New Zealand on September 29.

The 11-member CPTPP took effect for Australia, Canada, Japan, Mexico, New Zealand and Singapore in December 2018; Vietnam in January 2019; and Peru in September 2021. Brunei and Chile are the remainders that have yet to complete the ratification process./.

VNA