PM to boost bilateral trade, investments in UAE visit - MIDA | Malaysian Investment Development Authority
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PM to boost bilateral trade, investments in UAE visit

PM to boost bilateral trade, investments in UAE visit

11 Mar 2021

Malaysia is expected to multiply the amount of bilateral trade and investments in a number of sectors from the United Arab Emirates (UAE).

Prime Minister Tan Sri Muhyiddin Yassin said this was agreed during a meeting with Crown Prince of Abu Dhabi, Sheikh Mohamed Zayed Al Nahyan who is also UAE’s Deputy Supreme Commander.

“The Crown Prince emphasised on two main sectors, namely trade and investment.

“His exact words are ‘the sky is the limit,” said Muhyiddin at a press conference with the local media shortly before his departure back to Malaysia today.

Muhyiddin said the amount of trade investment by UAE in Malaysia currently stands at almost USD3 billion.

“The Crown Prince regards Malaysia as a good friend, with a level of friendship that can be described as extraordinary. Any decisions made at the meeting were based on close ties we already have between us,” he said.

Muhyiddin said Sheikh Mohamed Zayed had expressed his wish to increase the bilateral trade value five fold.

“Whatever the number (trade values) that we have, Sheikh Mohamed Zayed wants to multiply it five times more,” he said.

He said the Crown Prince also showed great interest in other sectors particularly oil and gas, palm oil trade, as well as digital education.

During his visit to the UAE, Muhyiddin also met with UAE Prime Minister who is also the ruler of Dubai, Sheikh Mohammed Rashid Al Maktoum in Zabel Palace, Dubai, yesterday.

Muhyiddin was in the UAE for a two-day working visit.

He had earlier visited Saudi Arabia (March 6 – 9), at the invitation of King Salman Abdulaziz Al-Saud.

Muhyiddin departed to Malaysia at 10.20am from the President Terminal, Abu Dhabi International Airport.

Also at the airport for the send off were Foreign Minister Datuk Seri Hishammuddin Hussein, UAE cabinet minister Sheikh Shakhbout and Malaysian Ambassador to the UAE, Mohd Tarid Sufian.

Source: NST