Meeting strengthens UK-Malaysia trade co-operation

The second Joint Committee on Trade and Investment Cooperation between the Department of International Trade (DIT) and Malaysia's Ministry of International Trade and Industry (MITI) has taken place in London.

The committee is a proactive measure to ensure the longevity of trade and investment cooperation between UK and Malaysia.

Natalie Black CBE, His Majesty's Trade Commissioner for the Asia Pacific, and Mr Hairil Yahri Yaacob, Deputy Secretary General (International Trade) for the Ministry of International Trade and Industry (MITI) Malaysia, co-chaired the meeting.

Malaysia is currently UK's 41st largest trading partner in the four quarters to the end of Q2 2022, accounting for 0.4 per cent of total UK trade.

The new JETCO is a significant initiative for Malaysia and the UK as it will support and strengthen trade, investment, and economic cooperation.

During the meeting, the UK also commended Malaysia on its recent ratification of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

The CPTPP's ratification will boost trade between the UK and Malaysia and open up new commercial and investment opportunities.

The BMCC highly commend the initiative by the Department for International Trade (DIT) and the Ministry of International Trade and Industry (MITI) and looks forward to greater economic partnerships between Malaysia and the UK.