Emirati Malaysian cooperation to facilitate investments in the field of food security and support the development of the Bagan Datock International Marine Station
Abu Dhabi, May 30 / WAM / The Ministry of Investment announced today, the signing of a memorandum of understanding with the Malaysian Pirac Development Foundation for Cooperation in the field of food security.
The memorandum also supports the development of the Pagan Datock International Marine Station in the Malaysian state of Pirac, which confirms the commitment of the two parties to develop a strategic infrastructure that supports global supply chains and sustainable economic growth.
The memorandum was signed in Kuala Lumpur in Malaysia, His Excellency Mohamed Hassan Al -Suwaidi, Minister of Investment, and Yap Dato Siri Haji Sarani bin Mohammed, Chairman of the Board of Development of the Malaysian Pirac State.
The two parties will work to explore investment opportunities in the field of food security, based on the comprehensive economic partnership agreement signed between the UAE and Malaysia last January.
His Excellency Mohamed Hassan Al -Suwaidi, Minister of Investment, said: “The Memorandum of Understanding with the Malaysian Pyrak State Development Foundation reflects our joint commitment to enhance the flexibility of regional supply chains and advance sustainable development, and through it, we aim to build effective international cooperation that achieves a concrete value for both parties, which contributes to enhancing the stability of the global diet.”
For his part, Yap Dato Siri Haji Sarani Bin Mohamed, Chairman of the Board of the Pyrak Governmental Development Company, said: “We are proud to hold this partnership with the UAE Ministry of Investment, which supports achieving our goals in developing the agricultural sector and infrastructure, and enhances our role in achieving global food security, and the Bagan Datok International Marine Station will be a vital gateway to Malaysian food exports, and our position in supply chains will enhance the supply chains. The global, and we appreciate our partnership with the UAE and look forward to continuing to cooperate with it. ”
It is worth noting that the UAE and Malaysia achieved a steady increase in the level of economic and commercial relations between them, as the volume of non -oil bilateral trade between the two countries reached $ 4.9 billion in 2023 and 4 billion dollars in the first nine months of 2024.
The UAE is the second largest commercial partner for Malaysia in the Middle East, as it represents 32% of the volume of Malaysia trade with the region, and Malaysia ranks twelfth among the Asian trade partners of the UAE.
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