KUALA LUMPUR: Digital trade represents a fundamental priority for the United Kingdom within its engagement with ASEAN and its broader global economic strategy.
UK Parliamentary Under-Secretary of State Liz Lloyd confirmed the UK has advanced bilaterally with ASEAN members through its Digital Economic Agreement with Singapore.
She also revealed the UK is exploring potential digital trade agreements with both Malaysia and Thailand.
“In the digital space, where I have a strong interest, we are continuing to work closely to advance digital trade through our Digital Innovation Programme,” Lloyd stated during the fifth ASEAN Economic Minister-UK Consultation.
Lloyd highlighted these bilateral and regional initiatives as reflections of a shared ambition to prevent digital trade barriers.
She said these efforts aim to foster a more seamless, secure and inclusive digital economy for all participants.
Lloyd reaffirmed strong UK support for ASEAN’s Digital Economic Framework Agreement, describing it as a crucial step for enabling exports.
She noted the agreement is vital for unlocking significant growth potential across the entire ASEAN region.
The ASEAN-UK dialogue partnership has strengthened considerably, delivering over 95% of commitments from its 2022 Plan of Action.
“This includes 45 out of the 54 commitments specifically focused on economy and trade, demonstrating our shared ambition for economic cooperation,” she added.
The UK is aligning its refreshed economic work plan with both ASEAN Vision 2045 and its own new trade and industrial strategies.
Lloyd pointed to London’s accession to the CPTPP in December 2024 as a milestone for embedding the UK in the Indo-Pacific trading order.
She welcomed the recent CPTPP ministerial statement which sets the scene for a formal CPTPP-ASEAN Trade and Investment Dialogue.
“We see this proposed dialogue as a valuable opportunity to foster greater alignment, promote inclusive growth for people and businesses, and strengthen regional economic integration,” Lloyd said.
Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Aziz said ASEAN and the UK remain committed to boosting two-way trade and investment.
He stated that both parties are focused on accelerating mutual economic growth through strengthened cooperation.
“At the same time, the digital economy, as well as sustainability and green growth, have become central to our economic development agenda,” Zafrul added.
He expressed pleasure with the current momentum of economic relations, noting that trade and investment numbers show good improvement. – Bernama
