KUALA LUMPUR: The United Kingdom is exploring digital trade ties with Malaysia.
“We will continue to work closely to advance digital trade through our digital innovation programme. We have made progress bilaterally with Asean’s members through our Digital Economy Agreement with Singapore and exploring potential digital trade agreement with Malaysia,” said the UK’s Parliamentary Under-Secretary of State and Minister for Digital Economy, Liz Lloyd.
Lloyd said this would build a “seamless” digital economy across the region and facilitate exports.
Lloyd said the United Kingdom’s accession to the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP) last year also marked a significant step in deepening the country’s engagement with Asean.
She said the bloc accounted for 14% of global gross domestic product (GDP), which included four Asean economies namely Malaysia, Singapore, Vietnam and Brunei.
“In a more uncertain world, CPTPP provides an important platform for a diverse group of economies to come together and decide how to deepen and extend the reach of high standards of trade and the opportunities to further facilitate trade with important partners,” she said.
CPTPP is a free trade agreement signed by 12 countries including Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United Kingdom and Vietnam.
Separately, New Zealand’s Trade and Investment Minister Todd McClay said the upgraded Asean-Australia-New Zealand free trade agreement (AANZFTA), would deliver real benefits to businesses and strengthen regional resilience at a time when it is most needed.
“I have spoken with many regularly this year and discussed our shared commitment to open markets and a strong rules-based trading system. It is good to be here today reaffirming that commitment,” McClay said at the 30th AEM-Closer Economic Relations (CER) consultation on Thursday (Sept 25).
Australia’s Trade and Tourism Minister Don Farrell said in his opening remarks that the partnership is anchored in trust and friendship.
“(The partnership) allows us to discuss new and emerging challenges in global trade policy. I look forward to this productive meeting, particularly in discussing the implementation of AANZFTA, including how Australia and New Zealand’s regional trade and development programme is supporting Asean member states,” he said.
