KUALA LUMPUR: Malaysia and the United Kingdom are looking to increase bilateral trade in the immediate future to assist in maintaining economic progress. For Britain, the move to see an increase in trade with Malaysia comes as the country's economy is seen as weakening as a result of the ongoing Euro crisis and debt frustrations in mainland Europe. Malaysia is seen by London as a potential partner to help push them out of any future downturn. British-Malaysian Chamber of Commerce (BMCC) deputy chairman Andrew M. Sill said that things looked positive and with the British government backing an increased focus on British-Malaysia ties, there was definitely a high expectation “we will see increased trade between the United Kingdom and Malaysia." He said it was no surprise that Britain was keen to boost the partnership and this was evident from the comments made by British Prime Minister David Cameron during his visit to Malaysia in April. “Cameron has said Malaysia has been the subject of benign neglect in recent years and trade between both countries has not been as high as it should be, and it was time to put in a bit of effort in rebuilding the trade ties and to getting it up to more acceptable levels. “I think what we will see in the coming years is a real focus on British-Malaysia trade and I'm very sure that we will see an increase in the level of trade between the two countries as a result," he told Bernama news agency. Last year, the United Kingdom was Malaysia's fourth largest trading partner among European Union countries, with a total trade of RM13.03 billion, while Malaysia was Britain's second largest trading partner in Asean. Sill, who is also country executive of Royal Bank of Scotland Bhd, said there was mounting interest from British companies to look at Malaysia as an alternative trade and investment destination given the uncertainties in Europe. “A lot of businesses are focused on multinational client base, and certainly in the first six months of the year we have seen enhanced interest in Malaysia in terms of new investments. “British companies that have an existing base in Malaysia are also looking to step up their investments and increase their representation and profile here. “Since Europe is going through a recessionary period, this is the natural instinct for European and British corporates to look at overseas markets. “And I think Malaysia has always been viewed as a prominent investment country," he said.
