THE Institute For Democracy and Economic Affairs (IDEAS) is estimating that Malaysia’s membership in the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) would boost the country’s gross domestic product (GDP) by 1%, with positive impacts to trade and employment, and that Taiwan’s membership would further extend the benefits.
IDEAS director of research Laurence Todd said as Malaysia and Taiwan share a strong trade and investment relationship, as well as a deep underlying industrial collaboration, which helps in Malaysia’s economic development.
He said there is evidence to suggest that this industrial collaboration could be improved if trade were liberalised and this would boost Malaysia’s industrial development, particularly in key sectors for the Fourth Industrial Revolution (4IR), including electronics, machinery and chemicals. – Nov 3, 2020
