Malaysia represented by MITI MinisterTengku Zafrul Aziz witnessed the accession of the United Kingdom to the CPTPP
The signing ceremony took place in Auckland, New Zealand during the 7th CPTPP Ministerial Commission Meeting. With the signing of the Protocol, the UK officially became the 12th CPTPP signatory and the first economy to accede to the Agreement after the 11 founding CPTPP Parties
Tengku Zafrul said, “UK’s membership into the CPTPP is an important milestone as this marks Malaysia’s first Free Trade Agreement (FTA) with the UK. Malaysia looks forward to the eventual benefits for our exporters and businesses, as upon entry into force, Malaysian exports will immediately enjoy preferential duty-free treatment on 94% of tariff lines, including our exports of particular significance, notably palm oil, cocoa, rubber, electrical and electronics and chemicals. The signing of the UK Accession Protocol is also timely as it sends a strong signal to the world on the advantages of the CPTPP membership including the Parties’ commitment towards an open, rules-based and liberal multilateral trading system. The UK’s participation into the CPTPP also demonstrates the true demand for, and value of this gold-standard Agreement.
In addition to the historic ceremony, Malaysia also joined the rest of the CPTPP Parties in celebrating the entry into force of the Agreement for Chile on 21 February 2023 and Brunei Darussalam on 12 July 2023.
