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UAE, Malaysia conclude negotiations towards CEPA

UAE, Malaysia conclude negotiations towards CEPA

10 Oct 2024 13:25

KUALA LUMPUR (WAM)

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Zafrul Aziz, Minister of
Investment, Trade and Industry for Malaysia, have confirmed the conclusion of negotiations
towards a Comprehensive Economic Partnership Agreement (CEPA) between the two nations that
seeks to eliminate or lower tariffs, reduce barriers to trade, promote private-sector collaboration
and establish new pathways for investment.

It builds on deepening economic ties between two nations, which in 2023 saw bilateral non-oil
trade exceed $4.9 billion. In the first half of 2024, non-oil trade reached $2.5 billion, a 7 percent
increase compared to the same period in 2023.

Malaysia currently ranks as the UAE’s 12th-largest Asian trading partner, and fifth among ASEAN
countries, while the UAE is Malaysia’s second-largest trade partner in the Arab world, accounting
for 32 percent of Malaysia’s trade with Arab nations.

The UAE is also the destination for 40 percent Malaysia’s merchandise exports to the Arab world.
Al Zeyoudi stressed that continued progress made by the UAE in concluding Comprehensive
Economic Partnership Agreements with promising economies worldwide reflects the forward-
looking vision of the nation’s wise leadership and its directives to build strategic partnerships that
increase trade and investment flows and stimulate sustainable economic growth.

https://en.aletihad.ae/news/business/4521159/uae--malaysia-conclude-negotiations-towards-
cepa