A high-level delegation from the UAE Ministry of Economy (MOE) will take part in key business forums in Malaysia and Singapore next month.

The team will be led by Eng Sultan Al Mansoori, UAE Minister of Economy.

The visit’s agenda includes participation in the UAE-Malaysian Business Forum in Kuala Lumpur, which will be held on February 5 and 6 in cooperation with the Malaysian Ministry of International Trade and Industry and the UAE Embassy in Malaysia, said a statement.

The delegation will also participate in the UAE-Singapore Business Forum which will be held in Singapore on February 8 in cooperation with the Singaporean Ministry of Trade and Industry, the Singapore Business Federation (SBF) and the UAE Embassy in Singapore, it said.

The UAE’s delegation comprises representatives from around 60 federal and local government and private entities. The two meetings are expected to present new investment opportunities for UAE companies in both countries in several economic sectors such as innovation, modern technology, Islamic banking, clean and renewable energy, real estate development, infrastructure and ports management, manufacturing, Halal trade, free zones and small and medium-sized enterprises (SMEs) following a number of meetings, workshops and a series of bilateral meetings for businessmen from all concerned parties, which will be organised on the sidelines of the business forums, it added.

Abdullah Bin Ahmed Al Saleh, undersecretary of the Ministry of Economy for Foreign Trade Affairs, said that in light of the UAE’s growing commercial, economic and investment prominence worldwide, it has attracted the attention of emerging economies, especially among Asian countries, which are also experiencing rapid economic and development growth as they advance their strategies. This in return promotes a platform for meaningful partnerships between UAE investors and the economically advanced countries.

Al Saleh added that strengthening the partnership between the UAE and Malaysia and Singapore will help open new investment opportunities for UAE investors in many neighbouring Asian countries, following the successes of the Malaysian and Singaporean economies and the growth of infrastructure and advanced logistics supplies in this region.

The value of non-oil trade between the UAE and Malaysia amounted to Dh15.4 billion ($4.19 billion) in 2016, according to statistics, surpassing the UAE imports from Malaysia which is worth Dh12.9 billion ($3.51 billion) and the re-export trade from the UAE to Malaysia reported Dh1.8 billion ($490.06 million) for the same year.

The UAE-Malaysian non-oil trade indices averaged Dh18.3 billion ($4.98 billion), UAE imports from Singapore reached Dh7.7 billion ($2.096 billion), and re-exports amounted at Dh7.6 billion ($2.069 billion), it stated. – TradeArabia News Service