Cabinet will make final decision whether to ratify CPTPP-EAC

Kuala Lumpur 18 sept 2019 Prime Minister Tun Dr Mahathir Mohamad received from Foreign Affairs Minister Datuk Saifuddin Abdullah a booklet to launched Foreign Policy Framework of The New Malaysia in Putrajaya. Also present is deputy foreign minister Datuk Marzuki Yahya(right).pix razak ghazali

by BERNAMA/ pic by RAZAK GHAZALI

THE Cabinet will make the final decision on whether to ratify the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) or otherwise, the Economic Action Council (EAC) said yesterday.

The matter was decided during the 7th EAC meeting held in Putrajaya on Tuesday, it said in a statement yesterday.

According to the EAC, the meeting chaired by Prime Minister Tun Dr Mahathir Mohamad (picture) discussed the results of an impact study on the CPTPP conducted by the Ministry of Economic Affairs.

“Trade agreements such as the CPTPP need to take into account the government’s commitment to implement inclusive development policies so that benefits generated by CPTPP can be enjoyed in tandem with the Shared Prosperity Vision 2030,” it explained.

The implications and potential impact of CPTPP were also discussed in depth at the meeting.

In addition to the government’s efforts to create a more competitive, efficient and conducive domestic market environment, the EAC also discussed the results of a review on the national food sector market under the Competition Act 2010.

The study was conducted by the Malaysia Competition Commission.

It also said the results of the finding have been scrutinised. It also discussed the prospects for the restructuring of the food supply chain through digital economic platforms with the active involvement of the private sector to lower the price of essential goods.