How does Miti justify CPTPP relevance using 576 certificates data?

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Miti Justifies CPTPP Relevance Through Certificate Issuance Data

The Ministry of International Trade and Industry (Miti) asserts the relevance and continued implementation of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) by highlighting the significant demand from local exporters, evidenced by the issuance of 576 preferential certificates of origin. As of March 10, 2023, these certificates, representing a free on board (FOB) value exceeding RM226.6 million, have enabled Malaysian businesses to benefit from reduced or eliminated import duties in CPTPP member countries since the agreement's enactment on November 29, 2022.
High Volume of Certificates Issued

Between November 29, 2022, and March 10, 2023, Miti successfully issued 576 preferential certificates of origin. This substantial number underscores a tangible uptake of the CPTPP's provisions by Malaysian exporters, indicating active engagement with the trade pact to leverage its benefits.
Significant Economic Value of Certificates

The cumulative free on board (FOB) value associated with these 576 certificates surpasses RM226.6 million. This financial figure quantifies the economic activity facilitated by the CPTPP, demonstrating its direct contribution to the export sector and the value derived by local businesses through preferential market access.
Exporter Demand as a Key Indicator

Miti views the demand for these certificates from local exporters as a clear demonstration of the CPTPP's practical utility and importance. The ministry's statement emphasizes that this demand validates the government's confidence in the trade agreement and supports its ongoing implementation, showcasing its perceived value by the business community.
Global Interest in CPTPP Underscores Benefits

The ministry also points to the six countries—the United Kingdom, China, Taiwan, Ecuador, Costa Rica, and Uruguay—that have formally requested accession to the CPTPP as further evidence of the agreement's attractiveness. This widespread interest, particularly with the UK's accession negotiations nearing finalisation, suggests that the CPTPP is recognised globally for offering substantial benefits, reinforcing its standing as a significant international trade framework.

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How does Miti justify CPTPP relevance using 576 certificates data?

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