(VOVworld) - Malaysia's Senate voted Thursday to authorize International Trade and Industry Minister Mustapa Mohamed to sign on to the Trans-Pacific Partnership Agreement (TPP) in New Zealand next Thursday.

The skyline of Kuala Lumpur, Malaysia. (Photo: AFP/Jimin Lai)

On Wednesday, Malaysia’s House of Representatives, approved the TPP by a vote of 127 to 84.

Mustapa has said Malaysia's economy would benefit from the deal and Malaysia would lose out to countries like Vietnam if it chose not to participate.

The TPP involves 12 Pacific Rim nations including the United States, Australia, New Zealand, and Vietnam.