British Malaysian Chamber of Commerce (BMCC) and the Malaysia Digital Economy Corporation (MDEC) today announced the signing of an MOU in a move to bolster digital trade and economic cooperation between the United Kingdom and Malaysia.
The MOU, endorsed by Ts. Mahadhir Aziz, CEO of MDEC, and Jennifer Lopez, CEO of BMCC, and witnessed by Gobind Singh Deo, the Minister of Digital, alongside Ailsa Terry, the UK High Commissioner to Malaysia, and Richard Graham, the Prime Minister’s Trade Envoy to the ASEAN EC, Indonesia, Malaysia, and the Philippines, underscores the steadfast dedication of both entities to cultivate strategic alliances, promote the exchange of knowledge, and spearhead initiatives aimed at expediting digital transformation and innovation across diverse industries.
Among the key highlights of the MOU are investment promotion, talent development, market access and establishing the BMCC digital tech committee. It opens avenues for Malaysian expertise and fast-growing digital companies to tap into high-growth potential markets, enabling them to expand their products and services to the UK.
Highlighting the UK’s stand as Europe’s top tech investment destination and home to the world’s fourth-largest number of tech unicorns, this partnership signifies a significant step towards bolstering digital cooperation between the two nations.
Ts. Mahadhir Aziz, CEO of MDEC said, “We are thrilled to join forces with BMCC as it exemplifies our unwavering commitment to driving digital transformation and enriching the digital economy. Together, with the PeMangkinMD national strategic initiative, we aim to generate significant economic spill-over and foster exceptional growth, reshaping the way we work and live in Malaysia.”
Jennifer Lopez, CEO of BMCC expressed optimism about the transformative impact of this collaboration, “The bilateral trade between the UK and Malaysia, currently at a healthy £5.8 billion (as of Q3 2023), underscores the deep-rooted historical ties and robust commercial exchanges between the two nations. However, the true potential for growth remains untapped, necessitating proactive measures to harness emerging opportunities on the horizon.
The digital economy presents immense opportunities for businesses to innovate, grow, and expand globally. Through this partnership with MDEC, we aim to facilitate closer collaboration between Malaysian and British businesses, driving mutual prosperity and growth, and leveraging the CPTPP to maximise the benefits of international trade and investment.”
Both MDEC and BMCC anticipate the far-reaching impact of this partnership in cultivating a dynamic and competitive digital ecosystem in Malaysia, leveraging the opportunities afforded by the CPTPP, and remaining steadfast in their commitment to achieving mutual objectives.
