The Star
The Star
  • 19 hours ago
The first comprehensive Free Trade Agreement (FTA) between Malaysia and the United Kingdom (UK), through the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), will boost trade and investment relations between both countries, according to the Investment, Trade and Industry Ministry.

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Transcript
00:00The Malaysian and British governments are counting down on the United Kingdom's entry
00:06into the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.
00:11The UK is scheduled to enter the CPTPP on December 15.
00:15Investment, trade and industry minister Tengku Datuk Sri Zafrul Tengku Abdul Aziz and acting
00:21British High Commissioner David Wallace officiated the countdown ceremony on Tuesday.
00:27Wallace said this will mark a milestone for the first comprehensive free trade agreement
00:31between the two countries through the CPTPP.
00:35He said the agreement will offer increased market access to both countries and will support
00:40shared ambition to remove barriers to trade.
00:44He said while some countries are talking about increasing tariffs, the UK is trying to bring
00:48tariffs down by being a member of the CPTPP.
00:52Zafrul said the UK remains a strategic trading partner to Malaysia, with total trade reaching
00:58RM14 billion in the first 10 months of this year.
01:02He said the numbers will improve through increased Malaysian exports of palm oil, aerospace parts,
01:08oil and gas, electrical and electronics products, as well as British exports of machinery, pharmaceuticals
01:15and high-tech goods.
01:18On another matter, Zafrul said Malaysia will monitor the development of the new US President-elect
01:23Donald Trump administration's threat to impose 100% tariffs on BRICS countries if they were
01:29to create a rival currency to the US dollar.

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