Oxford Business Group’s Managing Editor for Asia Paulius Kuncinas was a keynote speaker at a series of events organized to strengthen UK-Malaysia business relationship, alongside other high-profile representatives.
A four-day business networking event in Kuala Lumpur has brought together business leaders and political representatives from Malaysia and the UK to explore the wealth of investment and trade opportunities available across both economies.
The initiative, which takes the form of a series of brokering workshops, also explored the potential for broader economic cooperation between the UK and ASEAN against a backdrop of approaching regional integration. Malaysia is currently the UK’s second largest trading partner in ASEAN, according to UK Trade and Investment (UKTI). The two countries aim to double bilateral trade from its current volumes of £4bn to £8bn by 2016.
Speaking ahead of the event, Kuncinas said that while bilateral trade between Malaysia and the UK was flourishing across several established sectors, such as manufactured goods, chemicals and machinery, other emerging fields offered plenty of potential for cooperation.
“Malaysia’s advantages, which include a strategic location, an abundance of natural resources and years of strong industrial growth, are well documented,” he said. “Some of the latest estimates have bilateral trade already edging towards £4.6bn, which would signal an increase of 27% since 2009. With momentum continuing to build, we see untapped opportunities in several areas, such as Islamic financial services, education and real estate, while the launch of the ASEAN Economic Community will broaden the scope for collaborative ventures on a regional level.”
OBG’s team is currently researching, the global publishing, research and consultancy firm’s forthcoming analysis of the country’s economy, The Report: Malaysia 2016. The publication will assess trends and developments across the economy, including macroeconomics, infrastructure, banking and other sectoral developments.
OBG has a strong presence across ASEAN and publishes annual reports on many of the region’s economies. The Report: Malaysia 2016 will be produced with the Institute for Democracy and Economic Affairs (IDEAS) and the British-Malaysian Chamber of Commerce, with input from key organisations based in the country, including UKTI - Malaysia.