Page 573 - MOE ENGLISH PR REPORT - OCTOBER 2024

Al Zeyoudi highlighted that the UAE's progress in forming Comprehensive Economic Partnership
Agreements with promising economies worldwide reflects its leadership's forward-thinking vision.
These agreements aim to build strategic partnerships that boost trade and investment flows while
promoting sustainable economic growth.

He noted that this milestone reflects productive relations between the UAE and Malaysia and
Southeast Asia as a whole. "Malaysia is a long-standing and trusted trade partner that, like the UAE,
is seeking to enhance its economic prospects through increased trade and targeted investment," he
said.

Zafrul Aziz expressed confidence in the CEPA's potential benefits: "As Malaysia's first, historic Free
Trade Agreement with a GCC nation, I am confident the CEPA will enhance trade, boost
investments, and deepen the Malaysia-UAE economic ties."

Expanding Market Access

The CEPA will allow Malaysian exports such as electronics, machinery, jewellery, foodstuff, tropical
fruits, palm oil, cocoa, and rubber to enjoy zero import duties when it comes into effect. This
agreement positions the UAE as a strategic hub for Malaysian exporters to access markets in the
Middle East, North Africa, and parts of Europe.

The CEPA also serves as a strategic tool for UAE-based companies to use Malaysia as an entry point
into the ASEAN market. This will provide significant opportunities for businesses—especially
SMEs—through regional supply chain integration and knowledge sharing via UAE investors.
Future Prospects

The UAE’s CEPA programme aims to increase its non-oil foreign trade to AED4 trillion by expanding
relations with strategically important markets globally. Agreements with Indonesia and Cambodia
are already operational under this programme.

Zafrul Aziz added that MITI looks forward to collaborating closely with Dr. Thani bin Ahmed Al
Zeyoudi for swift ratification and implementation of the CEPA: "The CEPA is also a strategic lever for
UAE-based companies to optimise Malaysia as a gateway into the ASEAN market."

https://www.onearabia.me/business/uae-malaysia-conclude-negotiations-towards-cepa-011-
72683.html