ALOR STAR: Malaysia is looking at the Regional Comprehensive Economic Partnership (RCEP) as a possible alternative to the scuppered Trans Pacific Partnership (TPP) trade grouping.
International Trade and Industry Deputy Minister Datuk Ahmad Maslan said the RCEP, which involves 16 countries including Japan, India and China, offers a larger market size than the TPP, and would further strengthen Malaysia’s trade.
Ahmad Maslan said even though the TPP failed to materialise, the country still has other options through which to market Malaysian products to the world.
“Besides pursuing (bilateral) free trade agreements with some of the TPP members, we will also focus on the RCEP, which we hope to complete by the end of this year,” he said in a press conference after visiting Zinon Food Industry Sdn Bhd here today.
Ahmad Maslan pointed out that India and China alone have more than 2.5 billion people, while the market size offered by the TPP was just 880 million people.
He added that besides the RCEP, Malaysia will also further strengthen trade within the Asean region.