TPP to expand market for local business

WITH the ink still fresh on the recently-concluded Trans Pacific Partnership (TPP), Brunei-based diplomats have said the agreement will give local small and medium enterprises (SMEs) market access to the largest free-trade area in the world, giving the country a much-needed boost towards economic diversification.

Brunei was one of 12 Pacific Rim countries that reached an agreement on the pact – which encompasses 40 per cent of the global economy – last week, hailed as “the most important development in trade liberalisation” for many years.