The textile and apparel exports from the Southeast Asian of Malaysia would rise by 20 percent once the currently negotiated Trans-Pacific Partnership (TPP) agreement becomes a reality, the Malaysian Textile Manufacturers Association (MTMA) has said.
The TPP agreement would result in elimination of duties on Malaysian textiles and garments and consumers in the negotiating countries would find Malaysian products more competitive, MTMA said in a statement.
In 2012, Malaysian textile and clothing exports to TPP negotiating countries amounted to RM3.3 billion, and once the agreement comes into force, the member countries would lower their import duties for Malaysian products, Malaysian news agency Bernama reported.
Malaysia is now considered one of the top suppliers in the region due to its quality and timely shipment, the statement said.
The association said the TPP negotiations are taking place at an opportune time, as the global textile and clothing industry is becoming more competitive.
The 18th round of negotiations for TPP are scheduled to take place in Sabah province of Malaysia from July 15-25, 2013, and the member countries intend to complete negotiations by year-end.
The textile and garment industry is the 12th largest foreign exchange earner for Malaysia, involving 2,300 companies that together employ more than 80,000 people.