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ABU DHABI: Malaysia foresees vast trade and investment opportunities for Malaysia and the United Arab Emirates (UAE) to seize, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.
He said the UAE has always been a gateway for Malaysia to enter the West Asian market, adding that in terms of investments, the UAE is currently the largest investor in Malaysia from the West Asian region and the second largest among the Organisation of Islamic Cooperation member states.
“To date, implemented investments from the UAE amount to US$388.8 million (RM1.48 billion) in various manufacturing projects in Malaysia,” he said in his opening remarks during a roundtable meeting between Malaysian Prime Minister Datuk Seri Anwar Ibrahim with captains of industry in the UAE on Thursday.
He noted that ASEAN offers vast potential, given its population of 678 million and a combined gross domestic product (GDP) of US$3.7 trillion in 2022.
Also present were Foreign Minister Datuk Seri Dr Zambry Abdul Kadir and UAE Minister of State for Foreign Trade Dr Thani Ahmed Al Zeyoudi. – Bernama
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