No timeline to ratify CPTPP, says Azmin

By Farah Adilla September 1, 2020 @ 3:55pm

KUALA LUMPUR: No specific timeline to ratify the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) at this time, said the International Trade and Industry (MITI) minister Datuk Seri Mohamed Azmin Ali.

He said MITI is currently in discussion with all stakeholders in resolving several issues to protect the interests of domestic and industry participants ratifying CPTPP.

The focus is now more on efforts to finalise and seal the Regional Comprehensive Economic Partnership (RCEP) which is expected to be signed this November.

Azmin said Asean Plus Five have reached consensus and are finalising some of the details.

"We are quite optimistic that we should be able to sign agreement and conclude the negotiation by November this year.

"Next step is looking at other FTAs (free trade agreements) including CPTPP," he told reporters after delivering his keynote address at the closing of the third virtual series of Invest Malaysia 2020, organised by Bursa Malaysia Bhd and Macquarie.

Azmin noted that under the previous administration, in September 2018, the government then has decided to ratify CPTPP but without any timeline, which he did mention in Parliament.

"But for me, currently, the ministry is engaging with all the stakeholders because there is some issues that we need to address to protect the interest of our domestic players and industries before we can decide to ratify this.

"So it is the process that we decided to continue to engage with the stakeholders before the government will decide whether to ratify in the near future," he said.

Meanwhile, Azmin said the National Digital Infrastructure Plan, Jalinan Digital Negara (Jendela), which was unveiled on Saturday, is timely and central towards transition into 5G wireless technology and will pave the way to strengthen digital connectivity and close the digital divide in Malaysia.

"It is, therefore, clear that the government has identified Industry 4.0 as the key growth engine that will play a big role in ensuring sustainable economic growth.

"In this regard, the Industry4WRD policy, launched in 2018, envisions that by 2025, Malaysia will be the strategic partner for smart manufacturing and related services in Asia Pacific.

"One of the flagship programmes under this policy is the Industry4WRD Readiness Assessment Programme (RA) which provides assessment for businesses and factories on how they can move into Industry 4.0 through targeted intervention," he said.