MANILA: The Trans-Pacific Partnership (TPP) is gaining ground with at least five more countries planning to join the trade pact, International Trade and Industry Minister Datuk Seri Mustapa Mohamed said.
“The five countries expressed their interest during our bilateral talks and in their speeches during the ministerial meeting,” he told Malaysian media here on Monday night.
Mustapa is attending the Apec ministerial meeting in the Philippine capital with trade ministers from 20 other Pacific Rim economies, ahead of the two-day Leaders’ summit which starts Wednesday.
The current 12 TPP members are Brunei, Chile, New Zealand, Singapore, Australia, Canada, Japan, Malaysia, Mexico, Peru, the United States and Vietnam.
Earlier reports said among the countries that had indicated interest to join TPP were South Korea, Taiwan, the Philippines, Colombia, Thailand, Laos, Indonesia, Cambodia, Bangladesh and India. The largest economy in the region not involved is China.
“Some of them told me they have no choice. They can’t afford to be left out (of the TPP). I was quite surprised, They were very forthcoming and quite blunt,” Mustapa said, declining to name the countries.
Trade is an important component that supports growth in the Pacific Rim. All the TPP members are part of Apec. The Regional Comprehensive Economic Partnership (RCEP) is also heavily represented here with 12 of the 16 member states. A two-year study on the Free Trade Area of the Asia-Pacific (FTAAP) is due to be presented to Apec Leaders next year in Peru.