KUALA LUMPUR: By joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), trade agreements between the United Kingdom and Malaysia benefit businesses and consumers of both countries, says Catherine West, the UK Minister for Indo-Pacific.

The CPTPP allows tariff-free trade between the two countries, reducing prices for products and expanding consumer choices at the same time.

For instance, British products such as cars, whisky, chocolate, and sweets will enter the Malaysian market with more competitive prices, while Malaysian products like cocoa and vacuum cleaners will gain better access to the UK market under more favourable conditions, she said.

The UK signed the CPTPP accession protocol on 16 July 2023, becoming the first non-Pacific region country to join the agreement.

During her two-day visit to Malaysia, West made time for an exclusive interview with Sin Chew Daily on Tuesday despite her tight schedule.

In the interview, she stated that the CPTPP would enhance supply chain cooperation between the two countries, particularly in the services sector.

Malaysian companies will be able to bid for UK government service contracts on an equal footing with British firms.

She believes this will create more business opportunities for companies in both countries and further promote bilateral trade and investment.

During her visit, she also met with Liew Chin Tong, Deputy Minister of International Trade and Industry, and attended a semiconductor industry roundtable meeting.

Together, they witnessed the signing of a memorandum of understanding (MoU) on semiconductor cooperation between Semiwise from UK and Malaysian company Silicon Connect.

Both parties will jointly develop advanced packaging technology and talent training programmes, leveraging on the UK’s strengths in research and development, innovation, and intellectual property, while complementing the expertise Malaysia has in manufacturing and precision engineering.

In terms of future trade and investment, West revealed that both sides are exploring more collaboration opportunities, particularly in the semiconductor sector.

She highlighted the UK’s strength in semiconductor research and development, while Malaysia excels in manufacturing, making the partnership a win-win.

She specifically mentioned the recent collaboration between UK semiconductor company ARM and Malaysia, saying it is a successful example.

As the semiconductor and healthcare industries grow in importance, West noted that the UK-Malaysia cooperation in these fields has already delivered significant results.

For example, British universities are working with the semiconductor sector in Malaysia to drive industry growth.

Cooperation in healthcare has also been expanding, particularly in areas such as antimicrobial resistance (AMR) research, malaria, dengue fever, and HIV/AIDS.

She also urged the World Health Organisation to listen to the concerns of Global South nations regarding AMR, warning that the current antibiotics are becoming ineffective against deadly diseases such as neonatal sepsis and sexually transmitted infections, which pose severe health threats.

On 11 March, West and Health Minister Datuk Seri Dzulkefly Ahmad jointly launched the Global Antimicrobial Resistance Innovation Fund (GAMRIF) Summit in Kuala Lumpur.

At the summit, she emphasised the importance of research and development in addressing global health threats.

She warned that AMR could cause up to 10 million deaths annually by 2050 if left unchecked.