UAE, Malaysia take steps to grow their economic ties

Malaysia’s monarch spoke highly of the relations with the United Arab Emirates especially in the economic sector in an exclusive interview to the state news agency WAM. 

He said that the remarkable growth between the two countries when it comes to the trade and tourism and economic development programs show the economic potential they hold. Malaysia's King Sultan Abdullah Sultan Ahmad Shah, further asserted that UAE has also been one of the most important trading partners of Malaysia. 

"The UAE has been one of Malaysia’s main trading partners in this region. In 2019, total trade between Malaysia and the UAE was valued at US$6.426 billion, an increase of 12.5 percent from US$5.709 billion in 2018.”

The UAE and Malaysia have shown a lot of pride in their relations. The emirati nation has been Malaysia’s largest export destination and second largest when it comes to import in the West Asia region. This was the first interview that the King had given to any Arab nation. 

"Given our strategic location in the Southeast Asian region, Malaysia is committed to being the gateway for the UAE to enter the Southeast Asian market, which is home to 650 million people. As a major hub in the West Asia region, the UAE has always been an important country to Malaysia and serves as a gateway for Malaysia to new markets."

The Malaysian monarch was visiting the UAE last week related to work and this is the third time he visited the nation since he got the chair in January 2019. He also said that he hoped the two countries continue their efforts to explore opportunities that benefit both the countries. 

He also met with the crown prince of Abu Dhabi, Sheikh Mohamed bin Zayed Al Nahyan, who is also the deputy commander of the UAE armed focus among other senior authorities of the nation. 

He also showed his pleasure to the booming tourism data of the emiratis visiting Malaysia before the pandemic hit. The data revealed that in 2019 itself more than 11,000 Emiratis visited Malaysia. He said this while hoping to continue this in future too. 

He assured his participation in the upcoming Dubai expo 2020 event which will see more than 190 countries and will be one of a kind event. Malaysia believes that this will give an international platform to display their investment potential.


Source: https://www.wam.ae/en/details/1395302898474

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