Malaysia can exit the Trans-Pacific Partnership Agreement (TPPA) at any point of time without penalty.

International Trade and Industry Minister Mustapa Mohamed said Malaysia can use the exit clause if it decides to leave the TPPA within six months of notice with no penalty imposed.

He told reporters this at a one-day National Seminar on the TPPA in Kuala Lumpur today.

However, exiting the deal means Malaysia can no longer enjoy the benefits of the TPPA, such as access to investments and also lose access to the bigger markets of all 12 signatories.

The TPPA countries, namely Australia, the United States, New Zealand, Canada, Mexico, Peru, Chile, Brunei, Singapore, Japan, Vietnam and Malaysia account for almost 40 percent of the world’s gross domestic product and a third of global trade.

The landmark trade deal may be sealed in New Zealand in February 2016, if in the context of Malaysia, Parliament gives its approval.

- Bernama