KUALA LUMPUR – Chile’s move to ratify the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) opens up a big opportunity for Malaysian businesses, said International Trade and Industry Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz.
The agreement will enter into force for Chile, a country in the western part of South America, on February 21, 2023.
“A big opportunity for Malaysian businesses to take advantage of the preferential duty rates for goods that are exported to and imported from Chile,” he tweeted today.
The CPTPP is a trade pact between Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
The trade deal came into effect for Malaysia on November 29, 2022, and its comprehensive scope includes traditional market access areas as well as factors such as labour, environment, state-owned enterprises, government procurement, intellectual property, electronic commerce, and small and medium enterprises. – Bernama, December 24, 2022
