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Malaysia-Britain Bilateral Trade Not Disrupted, Post Berexit, Says Mustapa

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KUALA LUMPUR – Bilateral trade between Malaysia-Britain has not been interrupted, post-Brexit, says Minister of International Trade and Industry Datuk Seri Mustapa Mohamed.

“As you know, we have a number of British companies that have invested here, including Rolls Royce, which has partnered the UMW Group to open a new facility here in the next few months.

“We are also talking to several companies (British-based) through the Malaysia Investment Development Authority (on possible investment). We don’t see any disruptions in terms of investment or trade (with Britain),” he told reporters after a panel discussion on ‘Malaysia-Britain, Partners in a Post-Brexit World’ here today.

Meanwhile, the United Kingdom Secretary of State for the Department of International Trade Dr Liam Fox said some people predicted, Britain’s decision to leave the European Union would result in an economic apocalypse to the country.

“(But), what has happened, is our country has continued to grow strongly, our unemployment data has continued to fall while our employment data is now at an all-time-high.

“We (also) see a rapid level of consumer confidence and consumer spending because the fundamentals of our underlying economy remains exactly the same (post-Brexit),” he said.

If anything upon the post-Brexit, Fox said that Britain was now a more attractive place for investments compared with before Brexit.

“More interestingly, some of our provisional figures are suggesting that our foreign direct investments have been as strong since the referendum.

“Don’t read the prophet of doom, go and look at the real economy, because that will give you the proper answer to what’s happening.

“There are those who do not want Britain to leave the European Union and some do not want us to succeed in this (Brexit), but succeed we will, because we have a strong underlying economy, upward vision and we are in tune with Europe’s globalisation and the opportunities that it brings,” he added. – BERNAMA

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