Page 532 - MOE ENGLISH PR REPORT - OCTOBER 2024

10/23/24, 9:49 AM UAE and Malaysia conclude Cepa negotiations | The National

Malaysia's economy is expected to grow 4.4 per cent in 2024, according to the

International Monetary Fund, up from 3.7 per cent last year.

The deal builds on deepening economic ties between the two countries, which in 2023

recorded bilateral non-oil trade of more than $4.9 billion, according to Mr Al Zeyoudi. In

the first half of 2024, non-oil trade reached $2.5 billion, a 7 per cent increase from the

same period last year.

Malaysia ranks as the UAE’s 12th-largest Asian trading partner, and fifth among Asean

countries. Meanwhile, the UAE is Malaysia’s second-largest trade partner in the Arab

world, accounting for 32 per cent of Malaysia’s trade with Arab nations. The Emirates is

also the destination for 40 per cent Malaysia’s merchandise exports to the Arab world.

“As Malaysia's first, historic Free Trade Agreement with a GCC nation, I am confident the
Cepa will enhance trade, boost investments, and deepen the Malaysia-UAE economic

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