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10/23/24, 9:52 AM UAE, Malaysia conclude negotiations towards CEPA - City 1016

UAE, MALAYSIA CONCLUDE

NEGOTIATIONS TOWARDS CEPA

News Home More from Business News Thursday, 10 October 2024 15:52

By ARN News Staff

WAM
The UAE and Malaysia have officially concluded negotiations for a Comprehensive Economic Partnership
Agreement (CEPA), aimed at eliminating or reducing tariffs, lowering trade barriers and fostering

collaboration between private sectors while opening new investment pathways.

This agreement builds on the growing economic relationship between the two nations, which saw bilateral non-oil
trade surpass $4.9 billion in 2023. In the first half of 2024, non-oil trade reached $2.5 billion, reflecting a 7 per cent
increase from the same period last year.

Currently, Malaysia ranks as the UAE’s 12th-largest trading partner in Asia and fifth among ASEAN nations.

Meanwhile, the UAE is Malaysia’s second-largest trade partner in the Arab world, accounting for 32 per cent of its

trade with Arab countries. Notably, the UAE is also the destination for 40 per cent of Malaysia’s merchandise exports
to the Arab region.

Dr. Thani bin Ahmed Al Zeyoudi, the UAE Minister of State for Foreign Trade, highlighted that the ongoing efforts to
finalize Comprehensive Economic Partnership Agreements with promising economies align with the UAE's vision for

strategic partnerships aimed at enhancing trade, investment and sustainable economic growth.
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