In the presence of the President of the State and the Malaysian Prime Minister, the UAE and Malaysia sign a comprehensive economic partnership agreement

In the presence of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State, “may God protect him,” and His Excellency Anwar Ibrahim, Prime Minister of Malaysia. The UAE and Malaysia signed a comprehensive economic partnership agreement between the two countries. It aims to enhance trade and activate private sector cooperation, in addition to providing new opportunities for investment. In high-growth sectors in both countries.

The agreement was signed at the Abu Dhabi National Exhibition Center (ADNEC) by His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and His Excellency Zafrul Aziz, Malaysian Minister of Investment, Trade and Industry.

On this occasion, His Highness Sheikh Mohammed bin Zayed Al Nahyan stressed the importance of the agreement in strengthening the economies of the two countries, noting that it culminates the strong relationship between the UAE and Malaysia.

His Highness said that Malaysia, with its rapidly growing economy and supportive policies for trade, is a vital partner in Southeast Asia, while the agreement aims to deepen our cooperation in key sectors, strengthen supply chains, activate investment potential, and open new doors for private sector growth in both countries.

The Comprehensive Economic Partnership Agreement between the UAE and Malaysia, after it enters into force, will reduce or eliminate customs duties on a wide range of goods, simplify trade procedures, and facilitate access to markets for service exports.

Malaysia is the fourth largest economy in Southeast Asia, and one of the largest trading partners of the UAE in the Association of Southeast Asian Nations (ASEAN) region, as the volume of non-oil trade between them reached $4.9 billion in 2023, while it reached $4 billion during the first nine months of this year. Year 2024.

The UAE is also Malaysia’s second largest trading partner in the Arab world, representing 32% of Malaysia’s trade with Arab countries. The agreement is expected to consolidate the UAE’s position as a strategic center for Malaysian exports to the Middle East, North Africa and elsewhere, while opening a market The Association of Southeast Asian Nations region is open to Emirati investors and entrepreneurs.

The UAE’s Comprehensive Economic Partnership Agreements program is a cornerstone of its efforts to raise the value of its non-oil foreign trade to 4 trillion dirhams ($1.1 trillion) by 2031, and to enhance international cooperation with strategically important markets such as the Association of Southeast Asian Nations (ASEAN), whose output is The gross domestic product is more than $2.9 trillion and its population is 647 million people. With the comprehensive economic partnership agreements already entering into force with Indonesia and Cambodia, the UAE is working To strengthen its ties with the region and consolidate its position as a global trade center that links high-growth economies and expands the opportunities available to the private sector throughout the Asian continent.