KUALA LUMPUR, June 5 – Malaysia and the United Arab Emirates (UAE) reaffirmed their commitment to sign the Comprehensive Economic Partnership Agreement (CEPA) by the end of this year, according to the Ministry of Investment, Trade and Industry (Miti). This pledge was made during a bilateral meeting in Putrajaya between Malaysian Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz and UAE Minister of State for Foreign Trade Thani Ahmed Al Zeyoudi, who was on a one-day working visit to Malaysia.
The first round of CEPA negotiations began in October 2023. As Malaysia’s inaugural free trade agreement with a Gulf Cooperation Council (GCC) member, this agreement is expected to foster increased trade and investment between the two nations and enhance economic collaboration between ASEAN and the GCC. During the meeting, the ministers discussed potential cooperation in sectors like semiconductors and renewable energy.
The UAE delegation, which included nine prominent business leaders, aims to explore new business opportunities and strengthen existing partnerships with Malaysia. The UAE is Malaysia’s second-largest trading partner in West Asia, with bilateral trade increasing by 43.4% in the first quarter of 2024, reaching RM11.70 billion.
