Brexit Will Have No Negative Impact On Malaysia's Exports To UK, Says Don

SHAH ALAM (Selangor, Malaysia), March 28 (Bernama) – Britain's exit from the European Union (EU) will not have any negative impact on Malaysia's exports as both countries have long established relations. Professor Ian Barnes, Jean Monnet Professor of European Economic Integration Programme, said Malaysia-United Kingdom (UK) trade would also hinge on the conclusion of a new bilateral trade deal. Currently, Malaysia is negotiating a free trade agreement (FTA) with the EU. "The concern is that the whole process for the UK to leave the EU would damage the British economy," he said. He said the technical standards for the new bilateral trade deal between UK and Malaysia would likely remain the same as with the EU-Malaysia FTA. "The UK will also not be held back by future EU regulations," he said. He also envisaged that Malaysia's property investments in the UK would still take place with the pound sterling remaining cheap. Likewise, Barnes said UK firms would also continue to invest in Malaysia. UK is set to leave the EU bloc in 2019 after invoking Article 50. -- BERNAMA