TPPA in ratification phase

TPPA in ratification phase
There is a possibility the agreement could come into force by 2018 or after a minimum of six of the 12 signatories had ratified and notified New Zealand, the legal depository and administrator of the TPPA.
KUALA LUMPUR: The Trans-Pacific Partnership Agreement (TPPA) is now in ratification phase with the 12-member countries undergoing respective domestic process in order to bring the agreement into force.

International Trade and Industry Ministry's (MITI) senior director, Datuk J. Jayasiri, who is also Malaysia's chief negotiator for the TPPA, said the signing in Auckland, New Zealand on Feb 4, indicated that all 12 countries accepted the outcome of the negotiations.

"Moving forward, the most important thing before the agreement can be implemented is ratification, followed by the execution of the entry into force.

"Before ratification, legislative amendments may occur and the countries will have to make sure that they can implement the agreement," he said this at a TPPA post-signing briefing to the media here today.
He said there was a possibility the agreement could come into force by 2018 or after a minimum of six of the signatories, which made up 85 percent of the combined (2013) gross domestic product (GDP), had ratified and notified New Zealand, the legal depository and administrator of the TPPA.

Malaysia has identified the legislations that required amendments and had started consultations, he said.

"The legislative amendments for TPPA will involve 20 laws and seven rules or government directives. A national committee will be formed by MITI, for the implementation and monitoring of the TPPA," he said.

Jayasiri said outreach programmes were also presently conducted with target audiences -- government officials, businesses, associations, companies, NGOs and students.

"MITI will engage all states representatives on our commitments and to ensure effective implementation. We will also follow-up on suggestions raised by MPs in Parliament," he said.

READ: Fact-checking the campaigns for and against the TPPA

READ: Key facts about the TPP trade deal