On 5 October 2022, Malaysia officially announced that it completed the ratification procedures pursuant to Article 3. Entry in force of the CPTPP Agreement. It is expected that the CPTPP Agreement will officially enter into force for Malaysia on 29 November 2022.

Among the 11 countries that have signed the CPTPP Agreement, Malaysia is the 9th country to ratify this new generation of multilateral trade agreement after the ratification of the first 8 countries from 2018 to 2021 including Mexico, Japan, Singapore, Australia, New Zealand, Canada, Viet Nam, and Peru, respectively.

According to data from the General Department of Viet Nam Customs, the trade turnover between Viet Nam and Malaysia has a significant growth. Particularly, the total export turnover of the first 8 months of 2022 reached about $3.9 billion, up 42.1% over the same period in 2021. The total import turnover of the first eight months of 2022 reached about $6.2 billion, up 14.7% over the same period in 2021.