UAE’s private sector committed to strengthen ties with Malaysia

The UAE-Malaysia Business Council held its second meeting in Abu Dhabi, coinciding with the visit of Malaysia’s Prime Minister to the UAE.

The meeting was chaired on the UAE side by Essa Abdullah Al Ghurair, Chairman of Essa Al Ghurair Investment Group, and on the Malaysian side by Aimy Zairin Mohamed, of Malaysia’s Petronas.

Al Ghurair emphasised the UAE private sector’s commitment to strengthening bilateral cooperation between the two countries, praising the depth of UAE-Malaysia relations.

He highlighted the role of the Business Council in advancing relations to new horizons in line with the aspirations of the business community in both countries to build a long-term partnership that benefits both nations in vital sectors of shared interest.

The meeting was attended by Ahmed Juma Al Kaabi, Assistant Secretary-General of the UAE Federation of the Chambers of Commerce and Industry (FCCI) along with council members from both sides.

Meanwhile the United Arab Emirates and Malaysia have signed a Comprehensive Economic Partnership Agreement (CEPA) during a ceremony witnessed by President His Highness Sheikh Mohamed Bin Zayed Al Nahyan and His Excellency Anwar Ibrahim, Prime Minister of Malaysia.

The agreement is designed to accelerate bilateral trade, promote private sector collaboration, and create new opportunities for investment in high-growth sectors.

The CEPA was signed at Abu Dhabi National Exhibition Centre (ADNEC) in the presence of both leaders by 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.

His Highness Sheikh Mohamed Bin Zayed Al Nahyan emphasised the significance of the agreement in strengthening the economies of both nations, noting that it is a pivotal milestone in UAE-Malaysia relations.

The UAE-Malaysia CEPA will reduce or eliminate tariffs on a wide range of goods, streamline trade procedures, and enhance market access for service exports. Malaysia, Southeast Asia’s fourth-largest economy, is already one of the UAE’s top trading partners in the ASEAN region, with non-oil bilateral trade reaching $4.9 billion in 2023 and US$4 billion in the first nine months of 2024. The UAE is also Malaysia’s second-largest trade partner in the Arab world, accounting for 32 per cent of Malaysia’s trade with Arab nations.

The agreement is projected to solidify the UAE as a strategic hub for Malaysian exports to the Middle East, North Africa, and beyond while opening the ASEAN market to UAE investors and entrepreneurs.

The UAE’s CEPA programme is a cornerstone of its efforts to drive non-oil foreign trade to Dhs4 trillion ($1.1 trillion) by 2031 and foster international cooperation with strategic markets such as the ASEAN bloc, which boasts a GDP of more than $2.9 trillion and a population of 647 million people.

With CEPAs already in force with Indonesia and Cambodia, the UAE is bolstering its ties to the region and consolidating its status as a global trade hub that connects high-growth economies and expands opportunities for the private sector across Asia.

Sheikh Khaled Bin Mohamed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, and Anwar Ibrahim, Prime Minister of Malaysia, in the presence of His Highness Sheikh Tahnoon Bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi, have witnessed the signing of a Memorandum of Understanding (MoU) between the UAE and Malaysia to support joint investment in artificial intelligence (AI), as part of the Malaysia Madani Artificial Intelligence (MMAI) initiative.

The partnership aims to use AI and advanced data analytics to enhance community safety, national security and operational efficiencies.

As part of the MoU, the UAE and Malaysia will continue collaborating to promote technical cooperation in several key areas, including the development of AI-driven national security systems, establishing high-performance computing data centres and national security operations centres, enhancing customs tax collection, and improving operational efficiencies.

The Investment MoU was officially signed by Mohamed Hassan Alsuwaidi, the UAE Minister of Investment, and Saifuddin Nasution Ismail, Malaysia’s Minister of Home Affairs.

On the sidelines of the MoU signing, discussions centred on ways to strengthen bilateral political and economic relations between the UAE and Malaysia. Talks also addressed the latest developments in leveraging advanced technology and artificial intelligence across various sectors, particularly those that positively impact living standards and quality of life.

Mohamed Hassan Alsuwaidi said, “Our collaboration with Malaysia underscores the strength of our bilateral ties and our shared commitment to advancing technological innovation in support of sustainable development.”

The UAE-Malaysia Business Council held its second meeting in Abu Dhabi, coinciding with the visit of Malaysia’s Prime Minister to the UAE.

The meeting was chaired on the UAE side by Essa Abdullah Al Ghurair, Chairman of Essa Al Ghurair Investment Group, and on the Malaysian side by Aimy Zairin Mohamed, of Malaysia’s Petronas.

Al Ghurair emphasised the UAE private sector’s commitment to strengthening bilateral cooperation between the two countries, praising the depth of UAE-Malaysia relations.

He highlighted the role of the Business Council in advancing relations to new horizons in line with the aspirations of the business community in both countries to build a long-term partnership that benefits both nations in vital sectors of shared interest.

The meeting was attended by Ahmed Juma Al Kaabi, Assistant Secretary-General of the UAE Federation of the Chambers of Commerce and Industry (FCCI) along with council members from both sides.

Meanwhile the United Arab Emirates and Malaysia have signed a Comprehensive Economic Partnership Agreement (CEPA) during a ceremony witnessed by President His Highness Sheikh Mohamed Bin Zayed Al Nahyan and His Excellency Anwar Ibrahim, Prime Minister of Malaysia.

The agreement is designed to accelerate bilateral trade, promote private sector collaboration, and create new opportunities for investment in high-growth sectors.

The CEPA was signed at Abu Dhabi National Exhibition Centre (ADNEC) in the presence of both leaders by 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.

His Highness Sheikh Mohamed Bin Zayed Al Nahyan emphasised the significance of the agreement in strengthening the economies of both nations, noting that it is a pivotal milestone in UAE-Malaysia relations.

The UAE-Malaysia CEPA will reduce or eliminate tariffs on a wide range of goods, streamline trade procedures, and enhance market access for service exports. Malaysia, Southeast Asia’s fourth-largest economy, is already one of the UAE’s top trading partners in the ASEAN region, with non-oil bilateral trade reaching $4.9 billion in 2023 and US$4 billion in the first nine months of 2024. The UAE is also Malaysia’s second-largest trade partner in the Arab world, accounting for 32 per cent of Malaysia’s trade with Arab nations.

The agreement is projected to solidify the UAE as a strategic hub for Malaysian exports to the Middle East, North Africa, and beyond while opening the ASEAN market to UAE investors and entrepreneurs.

The UAE’s CEPA programme is a cornerstone of its efforts to drive non-oil foreign trade to Dhs4 trillion ($1.1 trillion) by 2031 and foster international cooperation with strategic markets such as the ASEAN bloc, which boasts a GDP of more than $2.9 trillion and a population of 647 million people.

With CEPAs already in force with Indonesia and Cambodia, the UAE is bolstering its ties to the region and consolidating its status as a global trade hub that connects high-growth economies and expands opportunities for the private sector across Asia.

Sheikh Khaled Bin Mohamed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, and Anwar Ibrahim, Prime Minister of Malaysia, in the presence of His Highness Sheikh Tahnoon Bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi, have witnessed the signing of a Memorandum of Understanding (MoU) between the UAE and Malaysia to support joint investment in artificial intelligence (AI), as part of the Malaysia Madani Artificial Intelligence (MMAI) initiative.

The partnership aims to use AI and advanced data analytics to enhance community safety, national security and operational efficiencies.

As part of the MoU, the UAE and Malaysia will continue collaborating to promote technical cooperation in several key areas, including the development of AI-driven national security systems, establishing high-performance computing data centres and national security operations centres, enhancing customs tax collection, and improving operational efficiencies.

The Investment MoU was officially signed by Mohamed Hassan Alsuwaidi, the UAE Minister of Investment, and Saifuddin Nasution Ismail, Malaysia’s Minister of Home Affairs.

On the sidelines of the MoU signing, discussions centred on ways to strengthen bilateral political and economic relations between the UAE and Malaysia. Talks also addressed the latest developments in leveraging advanced technology and artificial intelligence across various sectors, particularly those that positively impact living standards and quality of life.

Mohamed Hassan Alsuwaidi said, “Our collaboration with Malaysia underscores the strength of our bilateral ties and our shared commitment to advancing technological innovation in support of sustainable development.”