Page 569 - MOE ENGLISH PR REPORT - OCTOBER 2024

10/23/24, 9:53 AM UAE, Malaysia Conclude Negotiations Towards Comprehensive Economic Partnership Agreement

UAE, Malaysia Conclude Negotiations Towards

Comprehensive Economic Partnership

Agreement

Date Share on Facebook Tweet on Twitter
10/10/2024 6:10:11 AM

(MENAFN- Dubai PR Network)

The UAE and Malaysia CEPA seeks to build on bilateral non-oil trade that exceeded US$4.9
billion in 2023, and US$2.5 billion in the first six months of 2024.

HE Al Zeyoudi:“The fourth largest Economy in the Southeast Asia region, and with economic

growth outstripping 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.”

HE Zafrul Aziz:“The CEPA is a strategic lever for UAE-based companies to optimise Malaysia

as a gateway into the ASEAN market, which in turn, will provide tremendous opportunities for

our businesses – particularly the SMEs – through integration into regional supply chains,
capacity-building and knowledge sharing via the UAE investors.”

Kuala Lumpur, Malaysia, 10 October 2024:
His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and

His Excellency 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 US$4.9 billion. In the first half of 2024, non-oil trade reached US$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.

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