London: Malaysian products, particularly palm oil, are expected to benefit from tariff-free access in the United Kingdom (UK) under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) trade agreement.

According to BERNAMA News Agency, Malaysian High Commissioner to the UK and Northern Ireland, Datuk Zakri Jaafar, stated that this is possible because the UK formally joined the CPTPP last December. He explained that under this framework, tariffs for products by member countries will be reduced to zero, facilitating easier entry of Malaysian palm oil into the UK market. Zakri made these remarks during a press conference with Malaysian media.

Zakri was responding to questions about whether the palm oil tariff issue would be on the agenda during Prime Minister Datuk Seri Anwar Ibrahim’s five-day visit to the UK, which begins on Wednesday. Accompanying Anwar on this visit are three ministers, including Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani.

Malaysia ratified the CPTPP in October 2024, joining countries such as Peru, Japan, Singapore, Chile, New Zealand, and Vietnam in ratifying the agreement. Reports indicate that more than 99 percent of current UK goods exports to CPTPP member countries will be tariff-free once the agreement becomes effective.

According to Timber Development UK in its Trade Note on the CPTPP, plywood products from Malaysia and other ratifying countries will also be duty-free from the first year of the CPTPP agreement, compared to the previous duty rates of six to ten percent.

The CPTPP is an Asia-Pacific trade bloc comprising 11 countries plus the UK. The original members are Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam.

Regarding the possibility of Malaysia pursuing a future free trade agreement with the UK, Zakri stated there is no need, as the CPTPP already provides similar free trade elements for all member countries, including the UK and Malaysia.