UK's Agency Provides US$6.74 Billion To Support Trade With Malaysia

KUALA LUMPUR, Sept 26 (Bernama) -- Britain's credit export agency, UK Export Finance (UKEF), support available for UK-Malaysia trade has more than doubled to £5.0 billion (about US$6.74 billion), UK Prime Minister’s Trade Envoy to Malaysia Richard Graham MP said. “This means billions of pounds of additional financial support for UK exporters and their Malaysian buyers,” he said in a statement released by the British High Commission in Malaysia, on Monday. The increase means that an additional £2.75 billion (about US$3.7 billion) will be available from UKEF to help Malaysian buyers access attractive long-term financing to source high-quality goods and services from the UK. UKEF is also now able to support financing in Malaysian ringgit, which means that buyers in Malaysia can access finance in their own currency when they source from the UK. Graham, who is on a three-day visit to Malaysia until Tuesday, will also support the visiting UK English Language Training trade delegation, and meet senior government officials and business leaders. The visit follows a successful trip earlier by UK International Trade Minister Mark Garnier. He met key figures from Malaysia’s Ministry of International Trade and Industry to strengthen bilateral relations and discussed burgeoning trade in the technology and education sectors. During his visit, Graham also promoted UK education expertise and positioned the country as the overseas investment destination of choice for Malaysian companies and investors. -- BERNAMA