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Trans Pacific Partnership Agreement

In: Business and Management

Submitted By Amijan17
Words 7586
Pages 31
ABSTRACT

Trans- Pacific Partnership Agreement (TPPA) is now sound familiar to Malaysia, this is because that countries is one out of the twelve countries that involve in that agreement. The goals of the Trans-Pacific Partnership (TPP), a much-delayed but significant trade agreement between 12 countries in Asia-Pacific and the Americas pushed by the US are increasingly becoming clearer after ongoing talks reveal some of the intentions Washington is pursuing with this pact. The highlighted of the agreement is to increase in import growth is projected to outpace increase in export growth, as the reductions in import tariffs and non-tariff measures (NTM) are larger for Malaysia relative to the other TPPA countries.

According to The New York Times, economists are sharply split over the positive and negative effects of TPP, and both "opponents and supporters of the trade accord have quickly seized upon whichever analysis buttressed their own views. ECIPE has said in 2014 that TPP "will be the first ‘competing’ economic integration that is large enough to have a considerable negative impact on Europe. In the long-term, the negative effects will come from dynamic impact, e.g. on investment, productivity and competitiveness". Pascal Lamy called the TPP ‘the last of big old-style trade agreements’. It has said to be a negative impact on the oil and gas sector whose share of GDP is 12 per cent. PETRONAS stands to benefit very little from TPPA as 74 per cent of its exports are to non-TPPA Parties.

INTRODUCTION

Trans-Pacific Partnership (TPP) turn out to be a trade agreement that has been signed by twelve countries on 4 February 2016 in Auckland, New Zealand. This agreement has been signed after seven year of negotiation which not entered any force. This agreement contain about 30 chapters that claim to be about public policy. The countries that involve in this

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