Sarawak’s trade with UK increases two-fold to RM150.7 mln last year compared to 2021

KUCHING (Dec 14): Sarawak’s trade with the United Kingdom stood at RM150.7 million last year, a two-fold increase from 2021’s RM74.9 million, said Deputy Premier Datuk Amar Awang Tengah Ali Hasan.

The Minister for International Trade, Industry and Investment said Malaysia’s trade with the UK was valued at RM17.57 billion last year, slightly higher than the RM17.18 billion recorded in 2021.

“There are plenty of opportunities for more cross-border activities in the trade of goods and services between Sarawak and the United Kingdom.

“Besides trade, total investments from the United Kingdom to Malaysia from 2013 to 2023 totalled RM8.6 billion, mainly in manufacturing of products such as lighting equipment, medical equipment, chemical products, as well as services.

“In the same period, total investments from the United Kingdom to Sarawak was RM345 million, mainly in manufacturing of petrochemical and industrial gases,” he said in a statement today.

The statement was issued following a recent meeting with Lord Jonathan Peter Marland, member of the House of Lords and chairman of the Commonwealth Enterprise and Investment Council in London.

Awang Tengah exchanged ideas with Marland on matters of common interest between Sarawak and UK, especially in investment and trade.

With opportunities for collaborations between both parties, Awang Tengah extended invitation for Marland to visit Sarawak to further explore these potential collaborations.

Marland was the Prime Minister’s Trade Envoy and chairman of the UK Trade and Investment Business Ambassador Network between 2011 and January 2014.

He was made a Minister for the Department of Energy and Climate Change in 2010 and subsequently became Minister for Intellectual Property at the Department for Business, Innovation and Skills in 2012.

Marland continues his active involvement in the business world, and currently serves as the chairman at both Bspoke Insurance Group Ltd and EcoWorld Management and Advisory Services (UK) Ltd.

In addition, he is a member of the Investment Advisory Committee of the Kuwait Investment Authority.