UKABC Malaysia Briefing

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Wed, 6 Mar. 2019
  • CONTRIBUTING PARTNERS
    UKABC

L-R: Charles Hay MVO, British High Commissioner – Designate to Malaysia; Ross Hunter, Executive Director, UKABC; Tony Collingridge OBE, Director – Malaysia, CWEIC

 

UKABC hosted a Malaysia Briefing for our partners and invited guests to meet the new British High Commissioner – Designate to Malaysia and hear from Malaysia expert, Tony Collingridge, Director – Malaysia, CWEIC.

Key takeaways:

  • Charles Hay MVO, British High Commissioner – Designate to Malaysia, will take up his appointment in April 2019. See FCO press release and bio here.
  • Malaysian economy continues to grow. Last quarter of 2018 grew by 4.7%, based on strong consumer spending and rebound in net exports. Fiscal reforms and governance a key priority for long term growth.
  • UK-Malaysia relations are strong with room to grow trade further.

Tony Collingridge provided an overview of Malaysia citing the economy grew by 4.7% in the last quarter (2018), with the year ahead predicted to be between 4-5%. The unemployment rate remains stable at an incredibly low 3.3%. Impact of US – China trade tensions and low commodity prices are a concern and may impact future growth.

Key UK-Malaysia Trade facts:

  • Exports of goods to Malaysia: £1,463m
  • Exports of good to UK: £1,821m
  • Exports of services to Malaysia: £867m
  • Exports of Services to UK: £445m

The British brand continues to be very popular and UK businesses are encouraged to leverage off the UK’s image of innovation, quality and trust. There are big opportunities for companies in education – especially TVET, digital technology, tourism, engineering and electronics and health sectors.

UKABC partners briefed Charles Hay on their presence in Malaysia and discussed areas of possible collaboration between the UK and Malaysia.

For more information on Malaysia please visit our Malaysia page. To learn more about exporting opportunities to Malaysia contact our ASEAN Export Specialists, Paul North and Geoff Charlesworth. For Corporate Partnership opportunities contact Allen.lai@ukabc.org.uk.

 

 

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