Malaysia and UAE Pursue Stronger Economic Bonds

 



Malaysia and the UAE concluded negotiations for a comprehensive economic partnership agreement, or CEPA, aimed at boosting trade between the partners. The CEPA will progressively eliminate tariffs and lower other barriers to facilitate two-way commerce and private sector linkages. It reflects the countries' commitment to deepening economic ties and opening new investment opportunities.  


The CEPA is timely as it serves as Malaysia's first such deal with a Gulf Cooperation Council member. It allows key Malaysian exports preferential access to the UAE's re-export market, making the nation a hub into other regions. The UAE likewise views Malaysia as a gateway into the expansive ASEAN economic bloc. Two-way trade exceeded $4.9 billion in 2023 and continues rising.


Minister Tengku Zafrul hailed the CEPA’s potential to enhance exports and attract foreign investment into high-growth industries. The UAE remains Malaysia’s second largest Arab trade partner and an important presence in key sectors. The agreement supports both countries' ambitious strategies for a $1 trillion non-oil foreign trade landscape. 


It also strengthens Malaysia integration within a wider CEPA network including Indonesia and Cambodia. This stimulates commerce by connecting regional and global supply chains. Upcoming ratification will quicken implementation of cooperation accords.


Frequent senior level engagements maintain cooperation  momentum across political and commercial aspects The UAE sees Malaysia as a long-standing and trusted economy that together enhance shared prospects. With economic growth forecast to exceed targets this year, attractive opportunities exist on both sides.


The CEPA indicates the strengthening Malaysia 🇲🇾 and UAE 🇦🇪 relationship broadenswin-win collaboration. It represents the will to leverage complementary strengths for mutual progression on international trade expansion.

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