The UK and Malaysia will step up co-operation to drive economic growth through trade and investment in key sectors.
Kicking off her visit today (10 March), the UK Minister for the Indo-Pacific Catherine West MP will witness the signing of a Memorandum of Understanding for a semiconductor partnership between a British and Malaysian company, advancing an already strong relationship between the UK and Malaysia in the technology sector.
Her visit comes 3 months after the UK joined Malaysia in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), making it the first UK-Malaysia free trade agreement. By cutting tariffs and reducing other market access barriers, this will boost an already strong trading relationship worth over £5.7 billion annually and reinforce 2-way flows of investment.
During her 2-day visit to Malaysia, the Minister will hold bilateral talks with Deputy Foreign Minister Datuk Mohamad bin Haji Alamin. Alongside a strong message on mutual economic growth and the green transition, the Minister will reiterate the UK’s support for Malaysia’s chairmanship of ASEAN and our commitment together on shared challenges from global health to international peace and security.
Minister for the Indo-Pacific, Catherine West said
Three months since the UK joined Malaysia in the CPTPP, eliminating tariffs and facilitating business partnerships, this is a moment of opportunity to deepen our economic links and advance our shared interest in sustainable and inclusive growth.
Technology is one of the sectors we can and must develop together. I’m here in Malaysia to support that.
To achieve economic growth we must have strong and stable foundations. That is why we will continue to work with Malaysia on our shared priorities around regional security issues, global health and the climate crisis.
The UK will remain an active, committed Dialogue Partner to ASEAN – supporting ASEAN centrality and Malaysia’s chairmanship of ASEAN in 2025.
