Page 539 - MOE ENGLISH PR REPORT - OCTOBER 2024

10/23/24, 9:50 AM UAE, Malaysia conclude CEPA talks as bilateral non-oil trade exceeds $2.5 billion in H1 2024
UAE, Malaysia conclude CEPA talks as bilateral non-oil trade exceeds $2.5 billion in H1 2024
In the first half of 2024, non-oil trade between the UAE and Malaysia reached $2.5
billion, a 7 percent annual increase

Malaysia currently ranks as the UAE’s 12th-largest Asian trading partner and fifth among ASEAN countries (Image: WAM)
Published: Thu 10 Oct 2024, 4:32 PM
Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and Zafrul Aziz,
Malaysia’s Minister of Investment, Trade and Industry have confirmed the conclusion of
negotiations towards a Comprehensive Economic Partnership Agreement (CEPA) between the two
nations.
The agreement seeks to eliminate or lower tariffs, reduce barriers to trade, and promote private-
sector collaboration. Moreover, it seeks to establish new pathways for investment.
Growing bilateral trade ties
The CEPA builds on deepening economic ties between the 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 annual increase.
Malaysia currently 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. The
UAE is also the destination for 40 percent of Malaysia’s merchandise exports to the Arab world.

Commenting on the negotiations, Al Zeyoudi stressed that the UAE’s progress in concluding CEPAs
with promising economies worldwide reflects its forward-looking vision. Moreover, it serves the
leadership’s directives to build strategic partnerships that increase trade and investment flows and
stimulate sustainable economic growth.

https://economymiddleeast.com/news/uae-malaysia-conclude-cepa-talks-as-bilateral-non-oil-trade-exceeds-2-5-billion-in-h1-2024/ 1/2