The UAE and Malaysia have completed official talks for a Comprehensive Economic Partnership Agreement (CEPA) to reduce tariffs, ease trade barriers, and promote private sector cooperation while creating new opportunities for investment. This deal strengthens the increasing economic ties between the two countries, with bilateral non-oil trade exceeding $4.9 billion in 2023. During the initial six months of 2024, non-oil trade surged to $2.5 billion, showing a 7 percent growth compared to the previous year's first half.
At present, Malaysia is positioned as the UAE's 12th top trading ally in Asia and fifth within ASEAN countries.
At the same time, the UAE stands as Malaysia's second-biggest trading ally in the Arab region, representing 32% of its trade with Arab nations. The UAE receives 40 per cent of Malaysia's exports to the Arab region.
Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, emphasized that the current work to complete Comprehensive Economic Partnership Agreements with emerging economies supports the UAE's strategic partnerships vision to boost trade, investment, and sustainable economic development.
He highlighted the close bond between the UAE and Malaysia, characterizing Malaysia as a reliable ally that, like the UAE, is dedicated to boosting economic opportunities through elevated trade and strategic investment.
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