Page 568 - MOE ENGLISH PR REPORT - OCTOBER 2024

10/23/24, 9:53 AM UAE, Malaysia conclude negotiations on Comprehensive Economic Partnership Agreement
The final terms of the agreement inaugurate a new era of trade and

investment partnership between the two countries, according to the

Emirates News Agency (WAM).

Key features include the elimination or reduction of tariffs, the removal of

unnecessary trade barriers and the enhancement of cooperation and

partnership within the private sector, alongside the identification of new

investment opportunities.

The agreement builds on the strong economic ties between the countries.

The volume of bilateral non-oil trade exceeded $4.9 billion dollars in 2023.

In the first half on 2024, the volume of non-oil trade reached $2.5 billion

dollars, reflecting a 7% increase compared to the same period last year.

Malaysia ranks as the 12th largest trading partner of the UAE in Asia and

the 5th among the Association of Southeast Asian Nations (ASEAN).

The UAE is Malaysia’ s second largest trading partner in the Arab world,

with a share of 32% of Malaysia’s total trade with Arab countries and is

considered as the primary destination for about 40% of Malaysia’s goods

export to the Arab world.

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