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10/23/24, 9:50 AM UAE, Malaysia conclude negotiations towards CEPA – The Gulf Time Newspaper
UAE, Malaysia conclude negotiations towards CEPA

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.
He added that the latest milestone reflects productive relations that have developed between the UAE and Malaysia — and
Southeast Asia as a whole.
“Malaysia is a long-standing and trusted trade partner that, like the UAE, is seeking to enhance its economic prospects
through increased trade and targeted investment.”

“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.”
Zafrul Aziz stated, “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 ties. 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 electrical and electronics, machineries, jewellery, prepared foodstuff, tropical fruits, palm oil, cocoa and rubber
would immediately enjoy zero import duties when this Agreement comes into force.”

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