KUALA LUMPUR, Oct 28 — Indonesia’s plan to join the Trans-Pacific Partnership (TPP) agreement is not a challenge to Malaysia, says Minister of International Trade and Industry Datuk Seri Mustapa Mohamed.

“This is not a challenge for us because we want to see more trade barriers being reduced,” he said here today after launching the Halal Hi-Tech Challenge 2015 Awards ceremony.

He said if trade and investment obstacles can be reduced, it would be better to have more countries participating in the free trade deal.

Asked when the TPPA text would be debated in Parliament, Mustapa said it would be made public and presented to Parliament after several technical issues are resolved.

“Several issues are still outstanding and being discussed, when the technicalities are sorted out, then we would know roughly as to when the text will be made public,” he said.

On the RM100 million allocation to the National Innovation Agency of Malaysia, Mustapa said it was an action taken by the government to move forward and to achieve the high-income nation status.

“If we are to become a developed country, we have to be innovative to raise productivity,” he said.

Earlier in his speech, Mustapa said four initiatives have been put in place to inculcate innovative practices among Malaysian companies, especially Small and Medium Entreprises (SMEs).

The four initiatives include are: the Fraunhofer Institute, one of Europe’s largest research institution and Sirim would conduct technology audits to help companies improve their processes.

Secondly, Germany-based Steinbeis Institute would utilise its network of experts in Malaysia and abroad to assist selected companies in improving their technologies and products.

“Malaysia’s technology commercialisation platform, PlaTCOM Ventures Sdn Bhd, would facilitate the transfer of technology from Malaysian universities and research institutes to companies which are seeking to commercialise new applications.

Meanwhile, eight SME winners were honoured with the Halal Hi-Tech Challenge 2015 Award and received grants totalling RM3 million to support the development of their innovations.

They would receive end-to end facilitation services from PlaTCOM which would include access to infrastructure, technical expertise, certification, business advisory and other services. — Bernama