More Brexit wins - Great news for the independent UK just keeps on coming

Another 34 million people with a GDP of $0.4 trillion just gave the thumbs up to the UK

Montage © Facts4EU.Org 2024

How well does Brexit Britain have to do before Rejoiners admit they were wrong?

Yet another country 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 UK has become part of the fastest-growing trade bloc in the world – and that is not the EU. Today we report even more good Brexit news, on top of the reports we first published about these trade developments in August and thereafter. Those early reports proved to be amongst the most popular we have ever run and now we can publish two more, following news from Asia in the last few days.

A Brexit Facts4EU.Org Series – Supplementary
Brexit Britain’s newest and largest free trade agreement just keeps on getting better

Part I (this report) - 7th country ratifies UK’s entry, adding another 34 million consumers to UK’s potential market
Part II - It’s about to get even bigger. CPTPP trading bloc now set to overtake EU

Access our first reports on this Brexit success here

Once again we break the silence from the Government with even more excellent news

Since we 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 our original reports we 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.

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

Brexit Facts4EU.Org 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.

Brexit Facts4EU.Org 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!

The Facts4EU.Org site and its activities such as conferences, TV & video interviews, forums, etc, are :-

Advert-free : no annoying distractions or ‘pop-ups’
Paywall-free : Reading our news and reports does not require you to sign up and pay
Merchandising-free : We don’t try to sell you t-shirts or coffee mugs advertising us
Sponsorship-free : No corporate sponsorship funds our reports – we’re independent
We’re funded by donations from you – the public

The content :-

Unique, original, well-researched reports
No ‘re-hashing’ of articles you’ll read elsewhere
Based on official data, statements and reports, analysed by us
Transparent sources : Whether it’s the EU Commission, the ONS, or the IMF, we state where we obtained our data
We’re funded by donations from you – the public

NOTICE : Facts4EU has now scaled back to publishing 5 days-a-week

For over eight years we have worked seven days-a-week. As far as we are aware we are the only organisation of our type to have done this. We are grateful to those of our readers who have made donations but sadly the level of our funding is now such that we must make it stretch for as long as we can. This means team members taking other paid work and reducing our output to five days-a-week.

Please, please help us to carry on our vital work in defence of independence, sovereignty, democracy and freedom by donating today. Thank you.

[ Sources: Malaysia Ministry of Investment, Trade & Industry (MITI) | Office for National Statistics | Dept for Business and Trade ] Politicians and journalists can contact us for details, as ever.

Brexit Facts4EU.Org, Thurs 26 Sept 2024

Click here to go to our news headlines

Please scroll down to COMMENT on the above article.
And don't forget actually to post your message after you have previewed it!

Something to say about this? Scroll down for reader comments

Since before the EU Referendum, Brexit Facts4EU.Org
has been the most prolific researcher and publisher of Brexit facts in the world.

Supported by MPs, MEPs, & other groups, our work has impact.

We think facts matter. Please donate today, so that we can continue to ensure a clean Brexit is finally delivered.

Any credit card user

Quick One-off

From £5 - £1,000

Monthly

From £3 per month

Paypal Users Only - Choose amount first

Quick One-off

Monthly

PLEASE NOTE IF YOU WOULD LIKE TO COMMENT : You can write your comment under any existing comments below. After you have clicked to preview your comment, you MUST then click on the CAPTCHA system and send you comment, for it to be published. Thank you!

Reader Comments 10

1. Sparky , Thursday, September 26, 2024, 07:25:

Good news, although CPTPP is forecast to have little benefit to UK GDP at 0.08% of GDP with regard to Malaysia, the country was not one of the rollover agreements struck after leaving the EU. CPTPP will come into effect 14 December 2024.
.
However, (wouldn’t want to disappoint anyone!). The European Union (EU) and Malaysia signed the EU-Malaysia Partnership and Cooperation Agreement (EU-MY PCA) during the inaugural ASEAN-EU Commemorative Summit in Brussels on 14 December 2022, two years ago and are already seeing the benefits.

2. terence patrick hewett , Thursday, September 26, 2024, 08:02:

Rejoiniacs will never admit that they are wrong because their political stance is entirely political; despite claiming, dishonestly, that it is economic. Rejoinakery has far more in common with a looney religious cult, than politics: once that is clarified, their barmy antics become all too understandable.

3. NH , Thursday, September 26, 2024, 09:30:

1. Sparky, "wouldn’t want to disappoint anyone!"
So major EU countries who pay huge membership and "recovery fees" get to trade with Malaysia provided they accept a huge amount of restrictions on their other trade, their democracy, their legal system, the regulations and the control of their population and their borders. This agreement was concluded after 12 years of negotiations and still needs to be ratified by every EU state.
.
The UK gets to trade with Malaysia free of charge with no restrictions or hassle. I am struggling to understand why a major nation needs to be in the EU or why any sensible person would be disappointed with the UK's present system.

4. LuxuryBalloon , Thursday, September 26, 2024, 11:53:

Great news. Another Brexit win. Farage should apologise for saying that "We haven't benefited from Brexit economically when we could have done.”

5. Sparky , Thursday, September 26, 2024, 16:57:

3 NH.
We're paying now with the additional civil servants, border infrastructure and additional admin costs for exports/imports. Uk hasn't really started checking EU imports which will add to import costs.
.
This page was only complaining this week about the number of votes compared to seats and our type of democracy.
.
Aas for legal, we've got BRINO and will continue to follow EU Regs, buy a soft drink and look at the tethered cap.
.
What control over borders, UK has record immigration and we will only solve the crossing by working with the EU. Isolation will not work.
.
Trade or economy did not take us out of the EU, it was immigration.

6. Gazzablack , Thursday, September 26, 2024, 18:11:

5, sparkless
.
Just what type of import checks do you think we'll need to do that we're not already doing then sparky?

7. Parky , Thursday, September 26, 2024, 20:11:

Sparky,
Is the EU-Malaysia Partnership and Cooperation Agreement a free trade agreement?
If not, can you explain why it is taking them so long to reach a free trade agreement?

8. Gazzablack , Friday, September 27, 2024, 00:18:

7, Parky
.
Sparkys being somewhat disingenuous, the EU's own website reveals that negotiations between the EU and Malaysia were put on hold in 2012, and haven't retarted.

9. Parky , Friday, September 27, 2024, 06:46:

Somewhat disingenuous - I like it.
It doesn't surprise me, the EU don't really like a win/win agreement do they?
BBC:
OECD upgrades UK 2024 growth forecast to 1.1% from 0.4%
Growth forecast had previously been weakest among G7
Economy grew faster than expected in first half of year.
The UK has risen in the rankings of a group of wealthy nations to have the joint-second highest economic growth for this year, a think tank has predicted. The economy is now expected to grow by 1.1%, the same rate as Canada and France, but behind the US.
The Economist:
Europe has at last realised it has a problem with economic growth. Duh. Can it now find a solution? A report published on September 9th by Mario Draghi, a former president of the European Central Bank and prime minister of Italy, and the continent’s unofficial chief technocrat, is an attempt to do just that.
Apologies for using OECD forecasts but the negative ones are used all the time. On their website:
Latest Economic Survey of the United Kingdom (September 2024)
Sounds like the current government have cut and pasted it into economic policy.

10. NH , Friday, September 27, 2024, 09:50:

5. Spark.
Nothing you have stated has anything to do with Brexit, it's the normal Remainer-Rejoiners refusal to deliver Brexit. The Civil service has never produced any detailed information on additional costs, many people may believe this is just a cynical attempt to cover up their horrendous decline in productivity to protect their right to "work at home".

Add comment:

Please note: Your email address is never published unless you choose to enter it.