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NewsThe United Arab Emirates and Malaysia...steps to achieve a comprehensive economic partnership

The United Arab Emirates and Malaysia…steps to achieve a comprehensive economic partnership



UAE Foreign Trade Minister Dr. Thani bin Ahmed Al-Zeyoudi said non-oil trade between the UAE and Malaysia has continued its upward trajectory for the past five years, reaching $4.6 billion. dollars in 2022, a growth of 5% compared to 2021, and an increase of 31% and 18% compared to 2020 and 2019, respectively.

The minister added that Malaysia is one of the UAE’s most important trading partners for non-Arab Asian countries, as it accounts for 2% of the UAE’s non-oil trade with non-Arab Asian countries and ranks ranked 12th on the list of non-Arab Asian countries. the country’s most important trading partners in the world.

Dr Thani bin Ahmed Al-Zeyoudi added: “The United Arab Emirates is the 17th largest trading partner in the world and the second in the Arab world with Malaysia, according to foreign trade data for the year 2022, as it represents 32% of the Malaysia’s trade with Arab countries. country, and the country is also the top destination for Malaysian merchandise exports to Arab countries. accounting for 40 percent of Malaysia’s exports to Arab countries.

Regarding the growing investment relationship between the two countries, the minister said that the value of Malaysian investments in the UAE amounted to $150 million, spread across the sectors of industry, construction, real estate activities, commercial activities, transport, storage, financial activities, insurance and professional and technical activities.

UAE investment in Malaysia amounts to over $220 million, of which over $51 million is in the industrial sector.

Trade volume in 10 years

The total volume of non-oil foreign trade between the UAE and Malaysia over the 10 years amounted to 160.2 billion dirhams ($43.6 billion). Imports accounted for 76% of total trade between the two parties, with a value of 121.6 billion dollars. dirhams ($33.11 billion) and exports accounted for 16.5%, with a value of 26.5 billion dirhams ($7.22 billion).

Re-exports accounted for 7.5%, with a value of 12 billion dirhams ($3.27 billion), according to data from the Federal Center for Competitiveness and Statistics.

Data from the report on non-oil foreign trade between the United Arab Emirates and Malaysia during the period 2013-2022 published by “Competitiveness and Statistics” showed that trade between the two countries increased by 6% to reach 16.98 billion dirhams ($4.62 billion) by the end of 2022, compared to 16.06 billion dirhams ($4.37 billion) at the end of 2021, with a growth rate of 32%, compared to 12.917 billion dirhams ($3.51 billion) in 2020.

Over the past ten years, 2013 recorded the highest value of non-oil trade in a decade, amounting to 21.08 billion dirhams ($5.72 billion).

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