UAE to increase its total trade of $4.5 billion with Malaysia in 2009
In the presence of Her Excellency Sheikha Lubna Bint Khalid Al Qasimi, UAE Minister of Foreign Trade and The Honourable Tan Sri Dato’ Haji Mhiydin Haji Mohd Yassin, Minister of International Trade and Industry of Malaysia; Dubai Export Development Corporation (EDC) and the Malaysia External Trade Development Corporation (MATRADE) have signed a three-year Memorandum of Understanding to strengthen the trade between Malaysia and the UAE.
Malaysia’s total trade with the UAE in 2008 amounted to US$4.5 billion, an increase of 45.7 per cent from US$2.9 billion in 2007.
The MoU has been signed to enhance cooperation in promoting bilateral trade for the development of trade relations between Malaysia and the United Arab Emirates.
“Malaysia is one of the biggest Islamic economies which the UAE is trading with. The Partnership will encourage our respective companies to develop trade linkages between the two economies and promote mutual trade in our respective areas of strength. ,†said Al Awadi.
The agreement was signed by Engineer Saed Al Awadi, Chief Executive Officer, EDC and Dato’ Noharuddin Nordin, Chief Executive Officer, MATRADE, during the opening of the second Malaysia Services Exhibition (MSE) 2009 at the Airport Expo Centre.
The objective of the MoU, among others, are to organise joint activities, events & trade missions in respective countries, exchange of trade information, mutual promotion and training through exchange programmes.
Furthermore, both Parties shall cooperate to provide trade information, which shall benefit their companies, for joint publications and take the necessary steps to facilitate cooperation between Malaysia and the United Arab in the field of trade development and promotion
“The exchange of this MoU will further strengthen economic cooperation between Malaysia and the UAE. I am optimistic, that, with such collaborations, trade activities between both countries can be intensifiedâ€, said Nordin.
The MSE 2009 is a three-day exhibition which will be held from 17-19 March 2009 at the Dubai Airport Expo Exhibition Centre. This exhibition is an excellent avenue for business meetings and establishing profitable business alliances not only with the Malaysian services companies, but also with key decision makers in the GCC area. Over 200 Malaysian service providers will be present at MSE 2009.
About Dubai Export Development Corporation:
Having commenced operation in 2007, the Dubai Export Development Corporation (EDC) is an autonomous organisation under the directive of the Government of Dubai. Its vision is to be a world-class model in assisting and facilitating exporters, by creating an enabling environment for exports, with the aim of enhancing the competitiveness of Dubai as a preferred trading partner.
The EDC has moulded its mission to identify and effectively deliver value-added trade support services to Dubai export enterprises for accelerated and profitable expansion of their business in foreign markets.
For more information, please contact: Rose Manaog, MCS/Action, rose.m@actionprgroup.com
