CPTPP: Malaysia-UK FTA will boost trade and investment, says MITI

The Star

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.  Read more at https://shorturl.at/S0gZS  WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

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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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