News you will NOT hear broadcast on the mainstream media
Yet another country, Malaysia, has just ratified the UK’s membership of the dynamic trans-Pacific trading bloc that is the CPTPP. This now brings to seven the number of countries with which the UK will be trading on preferential terms from 15 December this year and this is due to increase to 11 in the coming months.
The economic implications of this for the UK are nothing short of ground-breaking and leave our trading relationship with the EU in the shade.
Yet the British establishment is still so wedded to the EU it cannot bring itself to report on developments further afield.
Once again Brexit Facts4EU.Org are in the vanguard, bringing to our attention vital news which others choose to ignore. The implications of what has just been agreed are laid out in summary below, with a link to the full report beneath it.
Backgroung
Once again we break the silence from the Government with even more excellent news
Since Facts4EU broke the pivotal story at the end of August about the UK’s biggest-ever free trade deal with one of the world’s largest trading blocs – ahead of all UK newspapers and TV channels, and after we shared this with GB News – a concerted campaign started, to discredit this excellent news for Brexit Britain.
In their original reports Facts4EU brought readers the news from Lima that the Peruvian government had ratified the accession of the United Kingdom to membership of the CPTPP world trading bloc. Peru increased the tally of existing members approving the UK’s accession to the magical number of six, representing a majority of the 11 CPTPP members. This was a crucial event, as it guaranteed the UK’s CPTPP accession in December this year. Access Facts4EU’s first reports on this Brexit success here .
© Brexit Facts4EU.Org 2024 – click to enlarge
Now it’s the turn of Malaysia to welcome the UK
Malaysia is now the seventh country to ratify the UK’s membership of the dynamic trans-Pacific trading bloc that is the CPTPP. The remaining four members have all signed and all that remains is for their parliaments to ratify. Each one that does this will expand the size of the available market to UK exporters from 15 December this year.
The Minister of Investment, Trade & Industry, Tengku Datuk Seri Utama Zafrul Aziz said:
“We are pleased to welcome to the UK into the CPTPP ‘family’. As Malaysia’s first bilateral Free Trade Agreement with the UK, we are confident of better access for Malaysian exports to the UK, whose economy breached USD $4 trillion in 2023.
Malaysia’s membership of the CPTPP, the gold standard for trade agreements, has also significantly boosted our competitiveness, fostered investors’ confidence and cultivated our exporters’ deeper integration into the global supply chain. The CPTPP members are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.”
– Ministry of Investment, Trade & Industry, 20 Sept 2024
Once again there appears to be a news blackout on this good news for the country
We can find nothing on the following websites
Main Government news site
BBC
Sky News
ITN (incl Channel 4)
With the help of GB News we are putting this right
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Summary
Malaysia and the United Kingdom
1. About Malaysia
- Population : 34 million
- GDP : $401.1 billion
- Growth rate : 3.7%
- Geographical size : 127,724 sq mi
Malaysia gained independence from the British Empire in 1957 and is now a federal parliamentary constitutional elective monarchy. Its government is modelled on the Westminster parliamentary system and the legal system is based on British common law, as opposed to the EU’s Napoleonic Code.
Decades of growth and stability have helped make Malaysia an industrialised, relatively open economy with consistent growth. The country offers opportunities across a wide range of sectors for UK exporters for a variety of goods and services.
2. Young and growing population
Malaysia has a young and growing population of over 34 million. An increasingly affluent middle class is willing to pay for quality. Malaysian society is multi-cultural and multi-lingual, but English is the business language and is widely spoken, particularly in metropolitan areas.
3. Respect for British brands
British brands are well respected in the market. Competition can be tough and price is a big factor in decision making, but companies like BAE Systems, BP, Prudential, Sports Direct and Unipart are already selling in Malaysia.
UK-Malaysia trade in goods and services 2023
Already a success story, the opportunities for UK businesses in Malaysia should grow further still, as the new CPTPP deal surpasses the EU’s deal which the UK ‘rolled over’ following Brexit.
Summary
The UK’s trading relationship with Malaysia
- UK Exports : £3.397 bn
- UK Imports : £2.334 bn
- Total UK-Malaysia trade 2023 : £5.731 bn
- UK trade surplus : £1.063 bn
[Source : Department for Business and Trade, 26 July 2024.]
UK businesses trading with Malaysia in 2023
- Around 5,700 UK VAT-registered businesses exported goods to Malaysia
- Around 3,000 UK VAT-registered businesses imported goods from Malaysia
- Total number of UK businesses involved in UK-Malaysia trade : 8,700
[Source : Department for Business and Trade, 26 July 2024.]
Employment supported by exports
- Exports to Malaysia supported around 30,300 jobs in the UK in 2020
- Exports to the UK supported around 72,800 jobs in Malaysia in 2020
[Source : Department for Business and Trade, 26 July 2024.]
Observations
On 15 December this year, this CPTPP trading bloc will already be larger than the EU in terms of its population (and number of consumers).
In our next report, exclusively with GB News we will reveal how the CPTPP is now also set to become even larger in terms of its consumer base – and much, MUCH larger than the EU in terms of its economic size. You do NOT want to miss this!
We are grateful to Brexit Facts4EU.Org for their permission to republish this report, which can be read in full by clicking on the link here.
Main image: Montage © Facts4EU.Org 2024
