Richard Graham MP, the UK Prime Minister’s Trade Envoy to Malaysia, has announced on a visit to the country that UK Export Finance support available for UK-Malaysia trade has more than doubled to £5 billion.
The increase means that an additional £2.75 billion will be available from UK Export Finance (UKEF), the UK’s export credit agency, 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 the Malaysian ringgit, meaning that buyers in Malaysia can access finance in their own currency when they source from the UK.
Richard Graham said:
I am delighted to announce that the UK Government, through UK Export Finance, is increasing financial support available for trade with Malaysia to £5 billion, meaning billions of pounds of additional financial support to support UK exporters and their Malaysian buyers.
While in Malaysia, Mr Graham will also support the visiting English Language Training trade delegation from the UK, and meet senior figures across government and business.
The visit follows a successful trip by International Trade Minister Mark Garnier earlier in the summer. He met key figures from the Ministry of International Trade and Industry to strengthen bilateral relations and discussed burgeoning trade in the technology and education sectors. He also promoted UK education expertise and positioned the country as the overseas investment destination of choice for Malaysian companies and investors.