Chamber News

Unlocking New Horizons: CPTPP Benefits for British and Malaysian Businesses

Date: 12 December 2023

The BMCC, Ministry of Investment, Trade and Industry (MITI), and the British High Commission of Malaysia joined forces in a historic hybrid session — ‘Unlocking New Horizons: CPTPP Benefits for British and Malaysian Businesses’ — to unveil the various benefits of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. Her Excellency Ailsa Terry, the British High Commissioner to Malaysia; Ms. Mastura Ahmad Mustafa, Deputy Secretary General for Trade; our CEO Jennifer Lopez, and member of our board of directors and CEO of HSBC Malaysia Dato’ Omar Siddiq officiated the event. The session, attended by a total of 100 physical and virtual participants, was moderated by Mr. Patrick Tay, Deals Partner for Economics & Policy from PwC Malaysia, and featured contributions from Ms Sumathi Balakrishnan, Malaysia’s CPTPP Chief Negotiator in MITI’s Strategic Negotiations Division; Mr. Richard Colley, Director of Trade for BHC Kuala Lumpur, and Tan Sri Yong Poh Kon, Chairman of Royal Selangor. The discussion shed light on the CPTPP, including Malaysia’s ratification in November 2022, and the potential impact that the UK’s entry into the trade agreement may deliver. The move allows businesses from the UK and Malaysia to reap the benefits of increased market access, tariff reductions, investment opportunities, regulatory coherence, and economic diversification. The BMCC is honoured to have been helped to organise this event in a step to strengthen business connections with this revolutionary trade agreement.