By Wong & Partners, a member firm of Baker & McKenzie International

Background

Malaysia recently concluded negotiations on the Trans-Pacific Partnership Agreement (“TPPA”) with 11 countries, namely United States of America, Singapore, Japan, Australia, New Zealand, Brunei, Canada, Chile, Mexico, Peru and Vietnam. The motion to sign and ratify the TPPA was passed by Malaysian legislature most recently on 28 January 2016. This is in advance of the proposal by the 12 nations to sign the TPPA in Auckland on 4 February 2016. The TPPA seeks to promote greater economic integration, as well as lift entry and trade barriers between the member countries. In particular, the TPPA requires member countries to adhere to commitments to develop the financial sector, unless a member country has negotiated exceptions to such commitments. We have set out the key areas of significance and the potential implications on the Malaysian financial market. …

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