emirates7 - The United Arab Emirates and Malaysia have signed a Comprehensive Economic Partnership Agreement (CEPA) during a ceremony attended by President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Malaysian Prime Minister His Excellency Anwar Ibrahim.
This agreement aims to enhance bilateral trade, foster private sector collaboration, and new investment opportunities in high-growth industries.
The signing took place at the Abu Dhabi National Exhibition Centre (ADNEC) in the presence of both leaders, with His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and His Excellency Tengku Zafrul Aziz, Malaysia’s Minister of Investment, Trade, and Industry, formalizing the deal.
His Highness Sheikh Mohamed bin Zayed Al Nahyan highlighted the agreement's importance in strengthening the economic ties between the two nations, calling it a significant milestone in UAE-Malaysia relations. He described Malaysia as a key partner in Southeast Asia, praised its dynamic economy and trade-friendly policies, and noted that the CEPA would foster collaboration in critical sectors, enhance supply chains, and unlock mutual investment opportunities, benefiting the private sectors of both countries.
The UAE-Malaysia CEPA will reduce or eliminate tariffs on various goods, simplify trade procedures, and improve market access for service exports. Malaysia, the fourth-largest economy in Southeast Asia, is already a significant trading partner for the UAE in the ASEAN region. Non-oil bilateral trade reached US$4.9 billion in 2023 and US$4 billion in the first nine months of 2024. Additionally, the UAE is Malaysia’s second-largest trade partner in the Arab world, accounting for 32% of its trade with Arab nations.
This agreement is expected to position the UAE as a strategic hub for Malaysian exports to the Middle East, North Africa, and other regions, while offering UAE investors expanded access to the ASEAN market.
The UAE’s CEPA programme is a key component of its strategy to boost non-oil foreign trade to AED 4 trillion (US$1.1 trillion) by 2031 and strengthen international partnerships with strategic markets like ASEAN, which boasts a GDP of over US$2.9 trillion and a population of 647 million.
With similar agreements already established with Indonesia and Cambodia, the UAE is deepening its ties with the region, further solidifying its role as a global trade hub connecting high-growth economies and creating new opportunities for the private sector in Asia.
This agreement aims to enhance bilateral trade, foster private sector collaboration, and new investment opportunities in high-growth industries.
The signing took place at the Abu Dhabi National Exhibition Centre (ADNEC) in the presence of both leaders, with His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and His Excellency Tengku Zafrul Aziz, Malaysia’s Minister of Investment, Trade, and Industry, formalizing the deal.
His Highness Sheikh Mohamed bin Zayed Al Nahyan highlighted the agreement's importance in strengthening the economic ties between the two nations, calling it a significant milestone in UAE-Malaysia relations. He described Malaysia as a key partner in Southeast Asia, praised its dynamic economy and trade-friendly policies, and noted that the CEPA would foster collaboration in critical sectors, enhance supply chains, and unlock mutual investment opportunities, benefiting the private sectors of both countries.
The UAE-Malaysia CEPA will reduce or eliminate tariffs on various goods, simplify trade procedures, and improve market access for service exports. Malaysia, the fourth-largest economy in Southeast Asia, is already a significant trading partner for the UAE in the ASEAN region. Non-oil bilateral trade reached US$4.9 billion in 2023 and US$4 billion in the first nine months of 2024. Additionally, the UAE is Malaysia’s second-largest trade partner in the Arab world, accounting for 32% of its trade with Arab nations.
This agreement is expected to position the UAE as a strategic hub for Malaysian exports to the Middle East, North Africa, and other regions, while offering UAE investors expanded access to the ASEAN market.
The UAE’s CEPA programme is a key component of its strategy to boost non-oil foreign trade to AED 4 trillion (US$1.1 trillion) by 2031 and strengthen international partnerships with strategic markets like ASEAN, which boasts a GDP of over US$2.9 trillion and a population of 647 million.
With similar agreements already established with Indonesia and Cambodia, the UAE is deepening its ties with the region, further solidifying its role as a global trade hub connecting high-growth economies and creating new opportunities for the private sector in Asia.