Kazakhstan is among top 3 foreign trade partners of Uzbekistan, following seven months of 2023, Kazinform correspondent reports. According to the Uzbek Statistics Agency, in January-July 2023, foreign trade turnover of Uzbekistan reached 34.9 billion US dollars and rose by 23.3% compared to the same period in 2022. China remains major trade partner of the … Read more
Neighboring countries account for 50% of re-exports from Georgia. In particular, Sakstat reports that in January-July 2023, the volume of re-export amounted to 1.855 billion dollars, of which the products worth 926.034 million dollars Georgia “resold” to four neighboring countries. he largest volume of products was re-exported to Azerbaijan, followed by Armenia and Russia, the … Read more
Imports fell 4.3% in the same period Export surplus of 98.7 billion euros in the first half of 2023 Chemical product imports and exports decreased in value and volume terms Total German exports rose by 3.3% to 797.8 billion euros in the first half of 2023 compared with the same period a year earlier. Goods … Read more
In June, the total volume of goods exports (adjusted for number of working days) fell by 1.5 percent year on year, as reported by Statistics Netherlands (CBS). The decrease was mainly seen in exports of chemical, metal and food products. Exports of transport equipment, machinery and appliances were higher. The volume of goods imports was … Read more
British High Commissioner-designate Ailsa Terry begins her role in Kuala Lumpur, focusing on enhancing UK-Malaysia ties, trade partnerships and climate cooperation through CPTPP. The British High Commissioner-designate to Malaysia, HE Ailsa Terry CMG, has officially commenced her new role at the British High Commission in Kuala Lumpur, marking a significant milestone in the ever-growing relationship … Read more
Ukraine has changed the mechanism of customs clearance of goods that are subject to licensing within the framework of the free trade agreement with North Macedonia. “On August 15, a resolution was adopted at a government meeting that changes the mechanism of customs clearance of goods that are subject to licensing within the framework of … Read more
Even after the reactions from the European Union, the United States of America, business associations and the alarming data about the damage done, the goods originating in Central Serbia have not been able to cross into Kosovo and Metohija through the administrative crossings for two months now. On June 14, Pristina banned the entry of … Read more
In January-June2023 the mutual trade of the Republic of Kazakhstan with EAEU countries amounted to13843.1million US dollars, which in nominal terms is 4.1% more than in January-June2022, Bureau of National Statistics reports. In January-June2023export of goods amounted to 5430.1million US dollars (increased on 36.8%), import – 8413million US dollars (decreased on 9.9%). In general volume … Read more
External Merchandise Trade (excluding non-declared trade) of Georgia amounted to USD 12 097.6 million in January-July 2023, 18.0 percent higher year-on-year. The value of export increased by 15.7 percent reaching USD 3 575.6 million, while the import increased 19.0 percent and amounted to USD 8 522.1 million. The trade deficit equaled USD 4 946.5 million … Read more
The role of Ailsa Terry as British High Commissioner-designate begins in Kuala Lumpur with the focus on enhancing UK-Malaysia ties, trade partnerships and climate cooperation through CPTPP. It marks a significant milestone in the ever-growing relationship between the United Kingdom and Malaysia.
Two nations expect to benefit from their inaugural Free Trade Agreement, established through the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which the UK joined just last month, so Ms Terry’s arrives at a crucial juncture. Bilateral trade and further solidify the ties between the two countries are expected to be enhanced by the agreement.
Ms Terry commences her appointment on August 10, 2023, succeeding Charles Hay MVO as the British High Commissioner to Malaysia. Her role in fostering diplomatic relations between the two nations will be formalized by presenting her credentials to His Majesty The Yang Di-Pertuan Agong later this month as part of her official duties.
Enthusiasm for the UK-Malaysia relationship and determination to reinforce various aspects of cooperation were expressed by Ms Terry upon her arrival, as well as the potential for expanded trade, education and technology partnerships, joint efforts to address the climate emergency and uphold international norms were highlighted by her. The opportunities for enhanced defence collaboration, particularly through the Five Power Defence Arrangements (FPDA) were also acknowledged.
According to Ms Terry, Malaysia is a global biodiversity hotspot, and UK-Malaysia Climate Partnership Memorandum of Understanding will enable both sides to work more closely together. She is also looking forward to working with Malaysia on important issues affecting regional security, stability, and prosperity, especially during the Malaysian chairmanship of ASEAN in 2025.
Ms Terry previously served as the Director of the FCDO’s Sanctions Directorate from 2022 to 2023, as the Foreign Affairs Sous-Sherpa and Director during the UK’s Presidency of the G7 in 2021 and as the Political Adviser to the EU Special Representative to Afghanistan in 2011.
This background of various diplomatic postings, including Islamabad and the UK Mission to the European Union in Brussels, means a wealth of expertise and knowledge she will bring to her new role.
Ms Terry matches her hope for fostering stronger UK-Malaysia ties with the economic potential of the new Free Trade Agreement. Easier access to the world’s fifth-largest economy and a consumer market of over 67 million people is opened up by the UK’s accession to the CPTPP on July 16, 2023. Malaysia in its turn gets a significant opportunity to strengthen bilateral trade and investment relationships.
Bilateral trade in goods and services between the UK–Malaysia attained approximately £5.6 billion in the four quarters to the end of 2022 (4Q22). A near-five per cent share of the Malaysian market in services (compared to less than 2% in goods), mainly in the travel, transportation, financial and other business services sub-sectors, currently belongs to the UK.
As it was stated in a press release last month, there is significant potential for growth in Malaysia and in UK businesses and investors’ interest in utilizing Malaysia as a hub in the wider region, given the UK’s strengths, especially in services.
However, studies conducted on the specific opportunities in Malaysia and in the UK for both nations’ goods and services trade and investments have been limited. Up to now, the broad or aggregated benefits of trading to the economies of both countries have been the focus of the studies.
According to the further statement of the release, research focused on how the UK’s accession to the CPTPP could benefit the different UK and Malaysian trade and services exporters as well as investors is now being proposed to fill this gap.
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