CICM Press Statement: Ratification of Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) Will Benefit the Chemical Industry - August 2, 2022

The Chemical Industries Council of Malaysia (CICM) issued a press statement on August 2, 2022, welcoming the findings of the Cost and Benefit Analysis (CBA) of the CPTPP which was published on July 25, 2022 by the Ministry of International Trade and Industry (MITI).  The CBA reaffirms that the CPTPP will benefit the Malaysian economy, including the chemical industry in the following areas:-

  • Strengthens Chemical Industry's Role as an Enabler in the Supply Chain
  • Greater Access to Export Markets
  • Enable Local Value-Adding Manufacturing Activities to Thrive
  • Increase Investment Attractiveness

With the above, CICM supports the ratification of CPTPP.  We call on the Government to expeditiously ratify the CPTPP to enable the Malaysian chemical industry to reap the benefits offered under the Agreement.

The full text of CICM's press statement could be read HERE.

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