Govt strengthening industry ahead of TPP

KUALA LUMPUR: The government is strengthening the textiles industry with various capacity building programmes ahead of the Trans-Pacific Partnership Agreement (TPPA) which will be implemented in 2018.

Internat ional Trade and Industry Minister Datuk Seri Mustapa Mohamed said among the initiatives taken included training programmes and improving the standards of small and medium enterprises (SMEs) involved in the textiles industry.

“Packaging, for example. We have come a long way. Presentation is very important. As a result of various capacity building programmes, some of our products have entered into the global market,” he told reporters after a knowledge sharing programme on the TPPA here yesterday.

Mustapa, si t ing a study conducted by American think tanks, said Malaysia and Vietnam would reap benefits in the textile industry due to zero export tariff agreed to in the TPPA.

This, he said, would benefit SMEs especially those involved in the textiles industry. “We are big in this. For example, shirts make up 35 per cent of our textile exports to the United States.

Duty on shirts is 25 per cent and with the TPPA there will be zero tax. This is a significant reduction,” he added. Earl i e r, Mus tapa urg e d SMEs to adapt to the changing business landscape and increased competition.

“Business is dynamic. It changes every day. SMEs have to adapt to TPPA, to the changing environment and to online commerce. Even without TPPA, businesses are threatened every day,” he added. — Bernama

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