Page 523 - MOE ENGLISH PR REPORT - OCTOBER 2024

The UAE is Malaysia’s second-largest trade partner in the Arab world, representing a third of
Malaysia’s trade with Arab countries.

Dr Thani bin Ahmed Al Zeyoudi, the UAE’s minister of state for foreign trade, said the partnership will
increase trade and targeted investment between the two countries.

“Malaysia offers substantial opportunity for our exporters, industrialists and business leaders,
especially in high-growth sectors such as energy, logistics, manufacturing and financial services,”
Al Zeyoudi said.

Wam

Tengku Zafrul Aziz and Dr Thani bin Ahmed Al Zeyoudi signing the agreement this week

The trade deal is Malaysia’s first with a GCC nation. Tengku Zafrul Aziz, minister of investment, trade
and industry for Malaysia, said he expects trade in certain goods to grow once the tariffs are
removed.

“We view the UAE as a strategic hub for Malaysian exporters to access markets in the Middle East,
North Africa and certain parts of Europe, particularly as Malaysian exports such as electronics,
machinery, jewellery, prepared foodstuff, tropical fruits, palm oil, cocoa and rubber would
immediately enjoy zero import duties when this agreement comes into force,” Aziz said.

He said the Cepa agreement will give UAE-based companies an opportunity to use Malaysia as a
gateway into the Asean market, which he expects will provide opportunities for local businesses –
particularly SMEs.

https://www.agbi.com/trade/2024/10/uae-and-malaysia-sign-cepa-to-increase-bilateral-trade/