[ad_1]
The UAE and Malaysia held a business roundtable in Abu Dhabi on Friday to promote trade investment and explore new opportunities.
The roundtable explored joint venture opportunities in high-growth sectors such as energy, infrastructure, logistics and food security.
The event was attended by Dr. Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, Malaysian Prime Minister Anwar Ibrahim and Malaysian Minister of Investment, Trade and Industry Tengku Zafar Tengku Abdul Aziz.
According to official data, Malaysia is the UAE’s 12th largest global trading partner, while the UAE is Kuala Lumpur’s second largest trading partner in the Arab world. Last year, bilateral non-oil trade reached US$4.8 billion, compared with US$3.5 billion in 2020.
![The UAE and Malaysia held a business roundtable in Abu Dhabi to explore bilateral trade opportunities.Photo: Ministry of Economic Affairs](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/PTQ6F677LZFXXB6ILCOXBD3PMQ.jpeg?smart=true&auth=a7e33b704d5e8ee5f95435bbf54c6f69119d90a361a311983a99c0edd3d85bb4&width=400&height=266)
“The UAE attaches great importance to our economic, social and cultural ties with Malaysia,” Dr Al Zeyoudi said.
“The desire to strengthen economic coordination is underlined by the frequent exchange of official visits and meetings between our business leaders, investors and entrepreneurs, all seeking to establish long-term partnerships in high-potential sectors.”
UAE President Sheikh Mohammed met with Mr Anwar on Thursday at Qasr Al Shati in Abu Dhabi to discuss bilateral relations and explore opportunities for further cooperation.
Announced in May this year, the UAE and Malaysia agreed to launch negotiations for a Comprehensive Economic Partnership Agreement to strengthen trade relations between the two countries.
During the roundtable, the Malaysian delegation engaged with representatives of 21 major UAE companies and sovereign wealth funds, including Adnoc, Taqa, Masdar, DP World, Adia and Mubadala.
“We sincerely hope that the relationship between Malaysia and the UAE will grow stronger and explore new areas of cooperation, including renewable energy, digital economy, food security, energy, health and connectivity,” Mr Anwar said.
The UAE, the Arab world’s second-largest economy, is seeking to develop closer trade and investment ties with partners around the world.
Updated: October 6, 2023 7:04 pm
[ad_2]
Source link