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Malaysian agriculture, palm oil, would benefit from TPPA

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Staff writer ▼ | December 8, 2015
The Malaysian agriculture sector, particularly palm oil, will benefit from the Trans-Pacific Partnership Agreement (TPPA) by lower tariffs.
Palm oil
Trade deal   Agriculture Attache at the United States Embassy Joani Dong:
Agriculture Attache at the United States Embassy Joani Dong said about $1 billion worth of Malaysian palm oil is imported into the country anually.

"We have already rated it (crude palm oil) at zero percent. Malaysia stands to gain a lot from countries within the TPPA pact which charges a high tariff," she told Bernama when met at the US Potato Fest culinary event.

"The United States has given a great tariff rate, which is zero percent. But for the remaining 11 countries in the TPPA, they will also bring it down to zero percent and this will benefit Malaysia," she said.

Other than palm oil she said, agriculture products such as cocoa would also benefit from the TPPA. Dong said, US exports to the Malaysian market consisted of products which do not attract many tariffs or there is no tariffs imposed at all.