UAE and Malaysia Sign Comprehensive Economic Partnership Agreement (CEPA)
Abu Dhabi, The Gulf Observer: The United Arab Emirates (UAE) and Malaysia have entered into a Comprehensive Economic Partnership Agreement (CEPA), a milestone initiative aimed at boosting bilateral trade, enhancing private sector collaboration, and unlocking new investment opportunities in high-growth sectors.
The agreement was formalized at a ceremony held at the Abu Dhabi National Exhibition Centre (ADNEC) in the presence of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and His Excellency Anwar Ibrahim, Prime Minister of Malaysia.
The CEPA was signed 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 highlighted the agreement’s pivotal role in strengthening UAE-Malaysia relations, noting Malaysia’s dynamic economy and pro-trade policies as essential assets in Southeast Asia. The CEPA will deepen collaboration in key sectors, enhance supply chains, and expand opportunities for the private sectors of both nations.
The agreement includes provisions to reduce or eliminate tariffs on a wide range of goods, simplify trade procedures, and enhance market access for service exports. In 2023, non-oil bilateral trade between the UAE and Malaysia reached US$4.9 billion, with the UAE serving as Malaysia’s second-largest trade partner in the Arab world.
The UAE’s CEPA program, a cornerstone of its strategy to boost non-oil foreign trade to AED 4 trillion by 2031, continues to solidify its status as a global trade hub. With CEPAs already in place with Indonesia and Cambodia, the UAE is further cementing its ties to the ASEAN bloc, unlocking new growth avenues for businesses across Asia.
