Page 546 - MOE ENGLISH PR REPORT - OCTOBER 2024

10/23/24, 9:51 AM UAE and Malaysia Finalize Comprehensive Economic Partnership Agreement
In 2023, bilateral non-oil trade between the UAE and Malaysia exceeded US$4.9 billion,

and in the first half of 2024 alone, trade reached US$2.5 billion, a 7% year-on-year

increase. Malaysia currently ranks as the UAE’s 12th-largest Asian trading partner, and

fifth within the ASEAN bloc. In return, the UAE is Malaysia’s second-largest trade partner in

the Arab world, accounting for 32% of Malaysia’s trade with the region.

Al Zeyoudi emphasized the CEPA’s importance, stating,

“This agreement reflects the UAE's commitment to

expanding global trade relations and fostering

sustainable economic growth."

He highlighted Malaysia's role as a strategic trade partner, particularly in sectors such as

energy, logistics, and manufacturing.

Zafrul Aziz hailed the CEPA as Malaysia’s first Free Trade Agreement with a GCC nation,

describing it as a pivotal step in boosting Malaysian exports.

"The CEPA will open new markets for Malaysian goods

and provide UAE-based companies access to ASEAN,"

he said.

The UAE’s CEPA program, which aims to expand non-oil foreign trade to AED4 trillion, has

already led to successful agreements with Indonesia and Cambodia, further strengthening

https://focus.hidubai.com/uae-and-malaysia-finalize-comprehensive-economic-partnership-agreement/ 2/3