Page 521 - MOE ENGLISH PR REPORT - OCTOBER 2024
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10/25/24, 9:29 AM UAE seals bilateral trade talks with Malaysia
Zeyoudi.
“As the fourth-largest economy in the Southeast Asia region, and with economic growth in
2024 set to outstrip forecasts, Malaysia offers substantial opportunity for our exporters,
industrialists and business leaders, especially in high-growth sectors such as energy,
logistics, manufacturing and financial services.”
The UAE’s CEPA programme aims to increase the country’s non-oil foreign trade to Dhs4tn
by expanding relations with strategically important markets around the world. It has seen
the UAE strengthen ties with the ASEAN bloc, with CEPA with Indonesia and Cambodia
now in operation, each helping to accelerate bilateral trade.
“The CEPA is also a strategic lever for UAE-based companies to optimise Malaysia as a
gateway into the ASEAN market, which in turn, will provide tremendous opportunities for
our businesses – particularly the SMEs – through integration into regional supply chains,
capacity-building and knowledge sharing via the UAE investors,” said Zafrul Aziz, Minister
of Investment, Trade and Industry for Malaysia.
The UAE’s non-oil trade reached a record Dhs1.4tn in H1 2024, an 11.2 per cent increase
in foreign trade compared to the corresponding period a year ago.
Earlier in October, the Gulf state signed CEPA agreements with Serbia and Jordan . It also
signed bilateral trade agreements with Australia and New Zealand in September.
The UAE has initiated a raft of bilateral trade, investment, and cooperation deals since
2021 to bolster efforts to diversify income sources and economic sectors. To date, it has
ratified five CEPAs with India, Israel, Indonesia, Türkiye, Cambodia, and Georgia. It is also
in negotiations with more markets of strategic importance at the regional and global levels,
including Congo-Brazzaville and Thailand.
Read: The UAE’s latest CEPA deal is with this Arab nation
https://gulfbusiness.com/uae-malaysia-conclude-bilateral-trade-talks/ 3/3
