PETALING JAYA : Qi Group of Companies Founder and Executive Chairman Datuk Seri Vijay Eswaran has lauded the signing of the Trans-Pacific Partnership Agreement (TPPA) in Auckland today, saying Malaysian firms must formulate strategies to emerge as global champions as well as penetrate the United States market in a big way.
"If we are able to get a piece of the American pie by selling or manufacturing goods or services and go global, the effect here in Malaysia is multiple," he said in an immediate response to the TPPA signed by the 12 Pacific Rim countries.
"The effect on our economy is tremendously more," he added.
Vijay, who leads the highly-successful global multi-level marketing conglomerate, said local firms should leverage on their core competencies, particularly that of commodities, to penetrate what is now formally one of the world's largest trade pacts.
Besides Malaysia, the other 11 participating nations in the TPPA include Australia, Brunei, Canada, Chile, Japan, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam.
"The TPPA is inevitable," he told Bernama while dispelling misperceptions that the agreement favoured the United States.
"We have to