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Enhanced trade Ties with UAE can enable Malaysian companies to reach wider markets — Ambassador

Enhanced trade Ties with UAE can enable Malaysian companies to reach wider markets — Ambassador

29 Mar 2022

There is still plenty of room for Malaysia to forge closer economic and trade cooperation with the United Arab Emirates (UAE) that can help national companies reach a wider markets globally.

Malaysian Ambassador to the UAE Datuk Mohd Tarid Sufian said many areas could be explored by Malaysia in the UAE, but the goal should not be seen only in the UAE but also in the larger market outside the Gulf state.

He said as the UAE is situated in the heart of the Middle East, it provides a logistics hub for the region, as well as African and European countries.

“Malaysia needs to take the opportunity to become a trading and investment partner to expand trade and investment ties not only with the UAE but also the world.

“It is a window for Malaysia to see the world as a whole… cooperation not only with the UAE but also the world in general,” he told a press conference in conjunction with Prime Minister Datuk Seri Ismail Sabri Yaakob’s three-day official visit to the UAE, here.

Ismail Sabri’s visit, which starts today, is his first official visit to the UAE after being appointed as the ninth Prime Minister of Malaysia on Aug 21 last year.

Mohd Tarid said the UAE is  an important trading partner for Malaysia and despite the world was  still navigating COVID-19, efforts to develop bilateral relations between Malaysia and the UAE were on track, especially with Malaysia’s participation in Expo 2020 Dubai which lasted for six months until March 31.

“Trade value has doubled to US$5.4 billion last year. The UAE is Malaysia’s largest trading partner in the region (Middle East),” he said.

He said the Malaysia Pavilion at Expo 2020 Dubai was more geared towards sustainable development, natural environment and recycling economy.

“Many MoUs (memoranda of understanding) or letters of intent have been signed by Malaysian and foreign companies, not just confined to the UAE … in the field of new and non-fossil-based energy which is seen as an initiative to reduce carbon footprint. This is a good step and opportunity capitalised on at Expo 2020,” he said.

On the second day of his visit to the UAE, Ismail Sabri is scheduled to visit the Malaysia Pavilion at Expo 2020 Dubai and is expected to witness the signing of several MoUs between Malaysian and foreign companies.

With Pavilion Malaysia’s focus on achieving net zero carbon emissions as part of its sustainable development goals, including sustainability and renewable energy, it gives Malaysia the best platform in showcasing the country’s innovative technologies and holistic solutions to the world.

Source: Bernama