KUALA LUMPUR: The Trans-Pacific Partnership (TPP) parties will create a user-friendly website targeted at small-and medium-sized enterprise (SME) users to provide easily accessible information on the agreement and ways for small firms to take advantage of it.
This includes description of the provisions of the TPP relevant to SMEs, regulations and procedures concerning intellectual property rights, foreign investment regulations, business registration procedures, employment regulations and taxation information.
“TPP parties have a shared interest in promoting the participation of SMEs in trade and to ensure that they share in the benefits of the TPP,” according to the final text of the TPP Agreement released today.
In addition, it said a Small- and Medium-Sized Enterprises Committee would be established and meet regularly to review how well the TPP is serving SMEs. It added that the committee will also consider ways to further enhance TPP benefits, and oversee cooperation or capacity building activities to support the SMEs through export counseling, assistance and training programmes for SMEs, information sharing, trade finance and other activities.
The TPP is a high-standard, comprehensive regional free trade agreement that will boost trade and investment flows between the countries concerned as well as integrate the region into a single manufacturing base and market.
After five years of negotiations, Malaysia and 11 other countries, Australia, Brunei, Canada, Chile, Japan, Singapore, Mexico, New Zealand, Peru, the United States and Vietnam, successfully concluded negotiations for the TPP on Oct 5 in Atlanta, Georgia, US. International Trade and Industry Minister Datuk Seri Mustapa Mohamed said in a statement today that the TPPA text would be tabled in Parliament early next year for debate.--BERNAMA