GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Government, Legal

 
  Share

His Excellency Engr. Sultan bin Saeed Al Mansoori, UAE Minister of Economy, said that the business and investment relationship between the UAE and Malaysia is established on a strong base given the similar trends and drivers of economic growth in both countries, including manufacturing, new technologies, service and international trade sectors, innovation, research and development, as well as open trade policies and a strong small and medium enterprises (SMEs) sector in both countries. 

Al Mansoori noted that the UAE is intensifying its efforts to promote its relations with Southeast Asian countries which are among the fastest growing economies in the world, with growth rates exceeding six per cent for some economies.

H.E. the Minister of Economy delivered his speech at the inauguration ceremony of the UAE-Malaysia Business & Investment Forum held in the Malaysian capital's Kuala Lumpur. The event witnessed the presence of H.E. Datuk Seri Mustapa Mohamed, the Malaysian Minister of International Trade and Industry (MITI), H.E. Khalid Ghanem Al Ghaith, UAE Ambassador to Malaysia, and H.E. Abdullah Al Saleh, Undersecretary of the Ministry of Economy for Foreign Trade Affairs. Participants also included representatives from several agencies, companies, business and investment entities from the UAE, Malaysia and Southeast Asia nations where the registered participating entities reached more than 300. The forum is a major initiative by the UAE Ministry of Economy in cooperation with the Malaysian MITI. 

Addressing the challenges
H.E. Al Mansoori noted during his speech that the forum will discuss several topics through seminars and round tables particularly in strategic sectors that are of mutual interest from both parties and will also include a signing of cooperation agreements. One of the key focal points of the event would be the promotion of Halal trade between the UAE and Malaysia, which intends to expand capabilities and expertise in this sector following Malaysia's recognition of the ‘UAE Halal Control System Global Practices.' H.E. also underscored the positive outlook on joint opportunities in the tourism sector between the two countries. 

Al Mansoori further emphasized that the forum will also look into opportunities to enhance cooperation in innovation, R&D, clean and renewable energy, real estate development, franchising, technology transfer and infrastructure, as well as explore opportunities on how to increase the visibility of UAE national products in the Malaysian market, which is gateway to other markets in Southeast Asia. He also mentioned that SMEs in the UAE and Malaysian economies are considered among the key drivers of economic growth for both countries. 

H.E. the Minister of Economy clarified that the UAE is currently Malaysia's largest trading partner among the GCC countries, where the volume of trade exchange between the two countries stood at AED 15.4 billion in 2016. Malaysia's direct investments in the UAE by the end of 2015 has amounted to AED 1.6 billion, while the value of the UAE's investments in Malaysia for the same period amounted to about AED 8.7 billion.

H.E. added that outlook on global growth and the improvement in oil prices are expected to improve the trade and investment relations and economic cooperation between the two countries.

Al Mansoori also discussed the importance of Malaysia's participation in Dubai Expo 2020, which represents major opportunities for various companies from all over the world. 

Glowing Models 
Al Mansoori added that over the last few decades, the UAE and Malaysia have developed links and channels reflecting their strong partnership--especially across political, economic, social and cultural aspects. The two countries have emerged as leading models for an Islamic economy, which welcomes the creativity and contributions of different cultures from around the world.

For his part, H.E. Datuk Seri Mustapa Mohamed, the Malaysian Minister of International Trade and Industry (MITI), emphasized on the importance of the relations between the UAE and Malaysia in terms of economic partnership and the strengthening of strategies for setting up joint projects across the sectors discussed at the conference, which stresses on the significance of seeking to pave the way for investors and business entities from both countries.
The Malaysian Minister of Economy also affirmed Malaysia's support for the UAE's hosting of Expo 2020—sharing that many Malaysian companies will be present at the international event—reflecting their strong appreciation for the UAE.

1,800 projects under the umbrella of the Khalifa Fund for Enterprise Development (KFED) to benefit from participating in trade missions
H.E. Abdullah Saeed Al Darmaki, CEO, KFED, said that the fund aims at expanding the entrepreneurial system through the creation of strategic alliances with leading SME development authorities and institutions. 

He added that the visit is a great opportunity for UAE entrepreneurs to collaborate on best practices, establish distribution channels and identify technology partners for their existing projects in the UAE. He noted that it is part of a comprehensive agenda implemented by KFED throughout the year, as there are more than 1,800 projects that can benefit from these trade missions.

For his part, Mohammad Nasser Al Zaabi, Director of Trade Promotion at the MOE made a presentation on the UAE's economic policy foundations, and the directives of its development vision 2021, its leading and competitive indices, as to introduce the Malaysian investors to the national business environment.



Posted by : GoDubai Editorial Team
Viewed 4465 times
Posted on : Tuesday, February 6, 2018  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : AI: Human History's Proudest Achievement or Frankenstein?
Next Story : Department of Economic Development – Ajman receives three new ISO certifications
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Meet the FOREO family as they share their top tips for radiant skin during the ...
Three Trends to Try with Palladio Beauty
bebe Launches First Ever Ramadan Capsule Collection
Max Fashion Reveals Latest 2018 Fashion Trends at Exclusive Trunk Show
Lexus sweeps two podium finishes at round two of 2018 AUTOBACS SUPER GT 500 series
Care for your baby's sensitive skin with Corine de Farme
Ramadan-Inspired Sandro SS18 Pieces
New Master Maserati Driving Courses for 2018
Spinneys Puts Local Food Heroes in the Spotlight this Ramadan
Do Explore More with Pandora
‘Tree of Life' Continues to Change Lives at Arabian Center, This Ramadan
Ethereum - Second In A Series Of Exclusive Cryptocurrency Watches Launched
Marchon Eyewear New Collections
Get Voluminous Eyelashes and Eyebrows with Rodial's Lash and Brow Booster Serum
Global Light and Power Celebrates 10 Years with the Opening of their New Showroo...
Mads Mikkelsen Spotted on Red Carpet at Cannes Wearing Ulysse Nardin Masterpiece
RAK Diabetes Center in Jumeirah offering Free Lifestyle wellness checks and Diet...
Charlotte Tilbury, the World's #1 Celebrity Makeup Artist, Announces the Opening...
Caudalie The Cleansing Collection
Pottery Barn Kids Launches Baby Registry Service to Welcome Newborns
Karl Lagerfeld Celebrates Fall / Winter 2018 Collection
Make Ramadan Better With the Gift of Sharing
Aru Impressed with Team Spirit as Italian Champion Secures Top Ten Finish
Hour Choice Presents Coach Perry Collections – Ramadan Exclusive
Breitling's Navitimer 8 Collection Arrives in The Middle East
Facebook Launches Youth Portal, a Central Place for Teens
Stay connected with your loved ones this Ramadan season with the Nokia smartphones
Pick what suits you from essence Spring/Summer 2018 nail polish collection
CND™ Boho Spirit: The Collection Summer 2018 Shades
White Man & Woman Focuses on Innovation and Sustainability With Patagonia at Whi...
Global Rollout of LGG7 Thinq Gets Underway
LG G7 Thinq Offers Deep AI Integration for Maximum User Convenience
1st Edition of Cannes International Film Festival From May 8 to 19, 2018
Elvis Presley's OMEGA Sells for a World Record CHF 1,500,000 at Auction
du Helps You Stay Connected this Ramadan with Exclusive Offers Throughout the Ho...
MAC - Prep + Prime Fix +
Celebrate Father's Day in 'Swiss Style' with Raymond Weil.
Etihad Airways Introduces Ai Robot Sophia to Abu Dhabi
Glambeaute.com's Special Ramadan Beauty Packs
Revel in the all-new Mango Memory Menu – a summer treat by Moombai & Co
Get Your Nails Summer Ready with FC Beauty
Dubai Festival City is the place to be this Ramadan
A Nose for Great Sound
HP and DiSTI Join Forces to Reinvent Enterprise Training Using Virtual Reality
Turkish Airlines Announced its 2018 April Passenger and Cargo Traffic Results
Lufthansa Group and Travix announce NDC partnership
Etisalat Launches First Commercial 5G Network in the MENA
Manero Flyback A Modern Take on a Retro Style
Qualcomm, Nokia and Leading TV Broadcasting Ecosystem Companies in Europe Showca...
Sheikh Juma launches his Asian Games preparations with NAS Run