TPPA failure will not affect Sepanggar Bay from becoming transhipment hub

KOTA KINABALU: The cancellation of the Trans-Pacific Partnership Agreement (TPPA) will not have any negative impact on the development of the Sepanggar Bay Container Port (SBCP) into the region's transhipment hub.
Assistant Industrial Development Minister Datuk Bolkiah Ismail said SBCP's strategic location allowed it to provide transshipment port services to major economic powerhouses such as Japan, South Korea, Taiwan and China.
This also included other countries such as Australia, New Zealand, Papua New Guinea and Brunei Darussalam-Indonesia-Malaysia-Philippines East Asean Growth Area (BIMP-EAGA) member nations.
"TPPA's failure will attract China's attention as the nation strived to be more aggressive in leading trade and economic growth in the region.
"China is expected to continue with its 'One Belt, One Road' (Obor) initiative to encourage trade in the Far East.
"Therefore, Sabah must be more proactive and take necessary strategic steps to take part in China's Obor and thus benefit from it while increase trade among Asean countries," he said in response to Datuk Charles O Pang Su Pin (BN-Karamunting), in the Sabah State Assembly Sitting, who asked if TPPA's failure would affect SBCP's development.
Bolkiah said Malaysia was currently involved in the Regional Comprehensive Economic Partnership (RCEP) discussions, together with 15 other nations, including seven TPPA member nations.
He said the RCEP covered more than 3.3 billion people, which is more than half the global population and 30 per cent of the world's total trade.
Meanwhile, Sabah Deputy Chief Minister cum State Industrial Development Minister Datuk Raymond Tan Shu Kiah said the cabotage policy was irrelevant to SBCP's development as a transshipment hub.
He was replying to a supplementary question from Datuk Wilfred Bumburing (PCS-Tamparuli) who asked if the cabotage policy would impact SBCP's development.
Tan said the creation of the transshipment hub in Sabah would help liberalise the state's cabotage policy.
He hoped the state government would use the economic opportunity to develop SBCP into a successful transshipment hub. — Bernama