Addressing an economic symposium held recently in the UAE, the Malaysian Ambassador, Dato Hussein Habashi, stated that the UAE is one of Malaysia’s’ most important trade partners in western Asia. Habashi estimated the value of these exchanges last year at $3.4 billion, according to Al-Bayan daily. The UAE attributed roughly one third of this sum.
Habashi also stated that 76 percent of Malaysia’s total oil imports arrive from the UAE, totaling 301 million Emirati dirhams ($81.9 million).
Malaysian exports to the UAE, on the other hand, were valued at $935 million last year. These exports included $273 million worth of gold, silver and jewelry. The UAE also imports Malaysian electronic equipment, food products and clothing.
Furthermore, Habashi anticipates that Malaysian companies operating in the UAE will sign additional contracts amounting to more than 1 billion Emirati dirhams ($272 million) in the near future.
Several of these contracts have already been disclosed. For instance, one Malaysian company is expected to sign a Dh 800 million land reclamation contract in the Palm Island Project in Dubai. A second is expected to include a Dh 100 million sewage contract in Abu Dhabi, while a third is to contract various private universities in the UAE to establish a “Smart School” project, a distance-therapy project and a smart-card project. Thirteen Malaysian companies currently operate in the UAE. –(MENA Report)
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