June 5, 2024
2 mins read

Malaysia, UAE seek deeper trade, investment ties

Dr. Al Zeyoudi Zafrul Aziz, Malaysia’s Investment Minister reviewed the progress of negotiations towards a Comprehensive Economic Partnership Agreement…reports Asian Lite News

Malaysian Prime Minister Anwar Ibrahim received UAE’s Minister of State for Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi, on a visit to the country designed to deepen trade and investment ties between the United Arab Emirates and Malaysia.

Dr. Al Zeyoudi also held talks with Zafrul Aziz, Malaysia’s Minister of Investment, Trade and Industry, in which they discussed collaboration in high-growth sectors such as technology, manufacturing, and services, and reviewed the progress of negotiations towards a Comprehensive Economic Partnership Agreement.

The visit reflects the strengthening ties between the UAE and Malaysia. In 2023, the two counties shared non-oil trade worth US$4.7 billion dollars, maintaining the record-setting levels achieved in 2022.

Al Zeyoudi stated, “Malaysia is a highly valued and long-standing trade and investment partner for the UAE, and this visit underlines the importance of face-to-face meetings as we seek to elevate our relationship. Our nations both recognise the developmental importance of open, rules-based trade and are committed to ensuring our private sectors are able to maximise the opportunities available in each other’s economies.

“We see considerable potential for greater trade and investment flows, particularly in high-growth sectors such as energy, logistics, manufacturing and financial services, and believe we can collaborate to further develop the Halal economy. We look forward to making progress on our CEPA negotiations and securing long-term, sustainable prosperity for both our nations.”

Echoing these sentiments, Zafrul Aziz stated, “The UAE is an important partner for Malaysia in the Middle East with whom we share a mutual commitment to enhancing trade and investment through open and fair-trade practices. This meeting is a testament to our joint efforts to build a more robust economic relationship that will benefit both our countries and regions.”

Al Zeyoudi, who was accompanied by a UAE delegation that included senior officials and representatives from the private sector, then attended a business roundtable, in which he underlined the potential for collaboration, particularly in the field of energy, the automotive sector and the Halal economy. This was followed by a networking meeting between business leaders from both countries, which sought to exchange experiences and discuss potential opportunities.

The UAE has been strengthening its ties with the ASEAN bloc in recent years. They have now signed Comprehensive Economic Partnership Agreements with Indonesia (July, 2022) and Cambodia (June, 2023), both of which are now in operation and helping to accelerate bilateral trade.

ALSO READ:

Previous Story

Gavaskar Tips Rohit-Kohli Opening Pair

Next Story

Dubai #1 in FDI inflows into cultural, creative industries

Latest from -Top News

WUC Intensifies Global Call for Uyghur Justice

WUC delegation undertook a week-long advocacy tour in Germany, where it met with Turkish NGOs and community leaders….reports Asian Lite News The World Uyghur Congress (WUC) has published its monthly brief, strengthening

India Urges Bangladesh to Act on Minority Attacks

MEA spokesperson Randhir Jaiswal urged the Yunus government to probe extremist attacks on minorities….reports Asian Lite News India on Friday criticised recent comments by Bangladesh’s Home Advisor Jahangir Alam Chowdhury, asserting that

Jaffar Express Targeted Yet Again

blast happened at a distance of one kilometre from the Sultan Kot railway station….reports Asian Lite News At least seven injured as blast hits Quetta-bound Jaffar Express in Sindh’s Shikarpur district. Shikarpur

India to Join G20 Energy Talks in South Africa

The meeting is being hosted under South Africa’s G20 Presidency in the country’s KwaZulu Natal province…reports Asian Lite News Union Power Minister Manohar Lal will represent India at the G20 Energy Transitions
Go toTop

Don't Miss

World leaders in Abu Dhabi

President His Highness Sheikh Mohamed bin Zayed Al Nahyan continued

MBZ Begins Historic France Visit

UAE and France are aiming to bolster joint action to