KUALA LUMPUR, July 11 (Bernama) -- Malaysia's total textile and apparel exports are projected to increase by 20 per cent with the implementation of the Trans Pacific Partnership (TPP) agreement, the Malaysian Textile Manufacturers Association said today.
The association said with the elimination of duties upon the TPP agreement's entry into force, consumers in these negotiating countries would find Malaysian textile and apparel products to be more competitive.
"The exports to TPP member countries in 2012 amounted to RM3.3 billion. The TPP agreement will see a decrease of import duty for Malaysian textile and apparel products entering the TPP member countries," it said in a statement here today.
The upcoming 18th round of TPP negotiations to be held in Kota Kinabalu, Sabah, will see plurilateral negotiations involving Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam and Japan, which will be participating for the first time.
Held on July 15-25, negotiators from the 11 TPP member countries will gather with the objective of completing negotiations by year-end.
The association said the TPP comes at the right time, when the global textile and apparel industry is becoming more competitive.
"Malaysia is no longer considered a cheap labour country but with our quality and timely shipment, Malaysia is considered to be one of the top suppliers in this region," it said.
At the moment, the textile and apparel industry is the country's 12th largest export earner, contributing RM9.5 billion to the country's total exports of manufactured goods.
Of this, 19.4 per cent is exported to the US.
Currently, there are about 2,300 companies employing over 80,000 people and many more in the supporting industries.
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