PETALING JAYA: The collapse of the Trans-Pacific Partnership (TPP) trade pact is a “material” loss to the export-driven Malaysian and Vietnamese economies, says Moody’s Investors Service. These income level estimates equate to an additional income growth of around one percentage point per annum between 2020 and 2030. US President Donald Trump took executive action on Jan 23 to formally withdraw the US from the TPP trade pact. Meanwhile, TPP signatories are working on alternative plans, including new bilateral and multilateral trade deals such as the Regional Comprehensive Economic Partnership. “Closer ties with China, India and South Korea could provide a significant boost for trade in the region,” Moody’s said.

Source: The Star February 01, 2017 21:45 UTC