Issue #238 - 8 Feb 2021 Dear Subscriber, |
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UK Applies to Join Huge Pacific Free Trade Area CPTPP
The UK is formally applying to join one of the world’s largest free-trade areas, deepening trade ties with some of the fastest-growing markets in the world. On Monday, 1 February 2021, the UK government submitted their notification of intent letter to begin the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) accession process.
Accession to CPTPP is a priority for the UK government and a key part of their trade negotiations programme as a newly independent trading nation. CPTPP is one of the most important free trade areas in the world and UK accession could see CPTPP’s proportion of global GDP rise to 16%. UK membership would also be the first step in expanding this influential and modern trade network of 11 dynamic economies beyond the Indo-Pacific region and Americas.
Benefits that CPTPP membership will bring for businesses include: - Modern digital trade rules that allow data to flow freely between members, remove unnecessary barriers for businesses, and protect commercial source code and encryption.
- Eliminating tariffs quicker on UK exports including whisky (down from 165% to 0% in Malaysia) and cars (reducing to 0% in Canada by 2022, two years earlier than through the UK-Canada trade deal).
- Rules of Origin that allow content from any country within CPTPP to count as "originating". For example, this would mean that cars made in the UK could use more Japanese-originating car parts, such as batteries.
- Easier travel for businesspeople between CPTPP countries, such as the potential for faster and cheaper visas.
The Prime Minister, Boris Johnson said, “Applying to be the first new country to join the CPTPP demonstrates our ambition to do business on the best terms with our friends and partners all over the world and be an enthusiastic champion of global free trade.”
International Trade Secretary Liz Truss said, “CPTPP membership is a key part of the Government’s plan to position the UK at the centre of a network of modern free trade deals that support jobs and drive economic growth at home."
Meanwhile, the British Chambers of Commerce (BCC) welcome the UK plan to join the CPTPP. Adam Marshall, Director General at the BCC said, “A new partnership with one of the world’s largest free trade areas would only be a good thing for our business communities.
"Firms will be keen to see the UK and members of the Comprehensive and Progressive Trans-Pacific Partnership forge a deeper trading relationship, and we will work with the government to maximise this opportunity for UK businesses.
“However, we must not forget the single most critical trade agreement for our business communities remains the one we have with the European Union.”
Related news article here. |
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The Department for International Trade Welcomes New Trade Commissioner for Asia Pacific
Sam Myers has stepped in for Natalie Black as the Department of International Trade (DIT)'s new Trade Commissioner for Asia Pacific during her maternity leave.
DIT Asia Pacific's upcoming priorities include: - Striking new FTAs and joining CPTPP
- Boosting UK exports to Asia Pacific
- Securing investment from Asia Pacific
- Deepening UK-ASEAN partnership
- Championing free trade with Asia Pacific
Upcoming DIT Asia Pacific Highlights here.
Follow Sam’s LinkedIn feed here. |
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The BMCC Newsletter Wants to Feature Your Green Initiatives
In line with the BMCC’s decision to make sustainability and building a green economy in the digital era one of our focus themes for 2021, we are reaching out to our members for newsletter content related to your green business initiatives, particularly in the areas of climate change and sustainable finance.
Please drop an email to comms@bmcc.org.my if you have relevant story ideas, thought leadership articles or news stories to share with us on the BMCC newsletter.
We look forward to hearing from you! |
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British Chambers of Commerce Webinar | The Future of the UK/EU Trade Relations: The NI/GB Border Arrangements
Join the British Chambers of Commerce through our Year of Trade Programme as we look at the specific requirements, issues and opportunities around the Northern Ireland border with Great Britain.
Chaired by James Martin, Director of Policy, British Chambers of Commerce, our speakers include: - Brendan Martin, International Trade and Customs Advisor, Northern Ireland Chamber of Commerce
- Aodhán Connolly, Director of the Northern Ireland Retail Consortium
- Elly Paterson, Northern Ireland Stakeholder Engagement Lead, HMRC
Date: Monday, 15 February 2021 Time: 1.30pm - 2.30pm (UK Time) / 9.30pm - 10.30pm (MY Time)
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Rules of Origin Campaign
Rules of Origin have been in the news a lot recently. Businesses up and down the UK have been struggling to make sense of the new arrangements for exporting inside and outside of the EU. The problems centre around new rules which describe which goods can be counted as being made in the UK, meaning they benefit financially from these new agreements.
To support businesses during this period of change, the British Chambers of Commerce has put together a new resource on the BCC website including information and FAQs and directing to the Chamber Network for expert advice. |
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Notice of Residence Pass ─ Talent (RP-T) Post-10 year Renewal
Applications are open effective 3 February 2021 for the renewal of the Residence Pass-Talent (RP-T) post-10-year. Applications can be made via the RP-T website, and are applicable for applications endorsed in the Year 2011 and approaching their full 10-year endorsement period only.
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Special Address by the Prime Minister on the Gazettement of the Emergency Ordinance 2021
Prime Minister Tan Sri Muhyiddin Yassin, in a special televised address on 4 February 2021 to explain the gazettement of the Emergency Ordinance 2021, said that the government would roll out the National Covid-19 Immunisation Programme at the end of February where 80 per cent of the nation's population or 26.5 million people would be inoculated in the biggest ever vaccination exercise in Malaysia. This would be given to Malaysians for free.
The prime minister also assured that the implementation of total lockdown as previously done would not be repeated as it would have a very negative impact on the country's economy and people's lives. The best method at the moment is to allow the necessary economic sectors to continue operating and at the same time implement strict SOPs to break the COVID-19 infection chain in the workplace, in residential areas and in the community. The Prevention and Control of Infectious Diseases Act 1988, also known as Act 342, will be amended soon to allow for stricter and quicker enforcement measures.
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TRANSITION MANAGEMENT . EXECUTIVE SEARCH . DISRUPTION MANAGEMENT At Lim-Loges & Masters we help transform companies through people. We work exclusively with multinational companies seeking to transform themselves into more nimble and engaged entities in Asia Pacific. As professionals specialising in Asia, we partner companies to minimise risk and manage talent through our three services. We are in Asia Pacific with key presence in China, Hong Kong, India, Malaysia, Thailand and Singapore.
Principal Representative: Sandra Tai (Client Partner, Lim-Loges & Masters Pte Ltd ) |
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Who Are You, and What Will You Do to Breakthrough?
In conjunction with World Cancer month this February, let’s start at “Prevention”, where early detection can save lives. At Sunway Medical Centre, we provide a holistic approach to cancer from diagnosis to full recovery while ensuring quality of life. |
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Charterhouse Malaysia Arrives in 2021
Charterhouse, one of the original seven British Public schools, with over 400 years of academic excellence, is coming to Malaysia in 2021! Charterhouse Malaysia is an English-medium Sixth Form International School with a modern international outlook. We prepare our students for A-level exams in a varied and dynamic learning environment.
Our shared DNA with Charterhouse UK means the values and traditions of our parent school are engrained in the culture of our school, but our outlook is modern. Everything about the school, from the curriculum design to the layout of learning spaces, is derived from our education ethos, Study, Create, and Inspire.
- Our new intake is on Monday, 23 August 2021
- 100% Scholarships for A-Levels
- Join our Online Open Event
If you have any enquiries, drop them here or Whatsapp us for assistance. |
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International Award-Winning Pastoral Care, Top 2% Global IB Results, 90-acre Purpose-Built Site Including a Working Farm
Marlborough College Malaysia Online Admissions Afternoon
The Master invites you to live presentations and discussions of how a Marlborough College Malaysia education would bring out the best in your child.
• UK National Curriculum, IGCSE and IB Diploma • Co-education from age 3 - 18 years • Boarding and day school
Date: Thursday, 18 February 2021 Time: 2.00pm (MY Time)
For more information click here. |
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The Alice Smith School Open Morning for 3 to 4 Year Olds
The Alice Smith School Foundation Stage aims to create a treasure-house of wonder and joy for curious young minds. Our dedicated Foundation play areas and garden provide a stimulating and interesting environment where your child will feel safe, cared for and valued. Join our virtual Open Morning to find out more.
Date: Wednesday, 17 February 2021 Time: 9.00am - 10.00am
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More Prosperity this Chinese New Year with Mercedes Benz at Cycle & Carriage!
More prosperity with 0% Sales Tax, exclusively at Cycle & Carriage. Enjoy savings up to RM60,000 and celebrate this auspicious occasion by driving home your desired Mercedes-Benz E-Class.
Contact us at 1800-22-800 today!
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The International School @ ParkCity Kuala Lumpur Online Open Day
We invite you to join our Online Open Day on Saturday, 20 February 2021 via video conference. The Online Open day will start at 11.00am and will be led by Mr Jonathan Turner, Principal of ISP. He will be joined by the Head of Primary School, Miss Rebecca Findlay and Mr Simon Taylor, Head of Secondary School. |
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Absolute Financial Solutions How Do I Invest in ESG?
Absolute run several ESG investment strategies for their clients using online platforms to significantly reduce costs and increase flexibility, truly worldwide trading.
For those clients looking to truly diversify their existing investment portfolio, or build a strategy for their future now is the time to get the ball rolling.
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Merger of SingEx and Sphere Exhibits
Temasek and Singapore Press Holdings Limited entered into an agreement on 1 February 2021 to merge their respective meetings, incentives, conventions and exhibitions (MICE) subsidiaries, SingEx Holdings Pte. Ltd, and Sphere Exhibits Pte Ltd (“Sphere Exhibits”) to form SingEx-Sphere Holdings Pte Ltd (“SingEx-Sphere”).
The merger brings together two leading MICE players with an ambition to become a MICE industry champion for the Asia-Pacific region, delivering new standards of hybrid engagements for businesses and communities to thrive. Collectively, SingEx-Sphere’s global footprint will cover markets across Asia-Pacific such as Singapore, India, China, Indonesia, Malaysia and Myanmar.
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Three60 Energy Wins Multimillion Pound Duty Holder Contract for Galoc Field FPSO
Three60 Energy has clinched a multimillion pound deal to provide of duty holder services on the Intrepid FPSO offshore Philippines.
The Aberdeen-headquartered firm will carry out operations and maintenance (O&M) duties on behalf of the Joint Venture which owns the Galoc field.
It is Three60’s first duty holder O&M role outwith the UK North Sea. It will lead to the creation of 15 jobs across the UK, Philippines and Malaysia. Last month, the firm said it aimed to add 50 new staff members globally over the next 12 months.
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Port of Tanjung Pelepas Records 8% Growth after Registering 9.8 Million TEUs Throughput in 2020
Port of Tanjung Pelepas (PTP), Malaysia’s most advanced container terminal and a joint venture between Malaysian based MMC Group and Netherlands-based APM Terminals, registered a strong terminal growth after accomplishing record-breaking 9.8 million TEUS (Twenty Equivalent Units) total throughput in 2020 despite global economic uncertainties and health pandemic.
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British Malaysian Chamber of Commerce Berhad 201801018075 (1280091-P) E04C0, 4th Floor East Block, Wisma Golden Eagle Realty, 142-B Jalan Ampang, 50450 Kuala Lumpur Copyright © BMCC 2021 |
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