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UAE, Malaysia set to boost economic cooperation

dubai - Joint ventures will be created in the fields of innovation, technology, halal industry, renewable energy and SMEs

The UAE Minister of Economy Sultan bin Saeed Al Mansouri has stressed on the importance of enhancing the channels of cooperation between the UAE and Malaysia, especially in terms of trade and investment.

Al Mansouri said the significance of strengthening these ties is reflected in the key interest placed by UAE and Malaysian companies, as well as their respective government and economic institutions, participating in the UAE-Malaysian Business and Investment Forum currently being held in Kuala Lumpur.

Al Mansouri witnessed the signing of a memorandum of understanding between the Abu Dhabi Chamber of Commerce and Industry and the Chinese Chamber of Commerce and Industry in Kuala Lumpur and Selangor, which aims to strengthen economic cooperation while also promote investment opportunities.

Discussions were held during Al Mansouri's meeting with Y.B Dato Sri Mustapa Mohamed, Malaysian Minister of International Trade and Industry, on ways to further enhance bilateral relations.

Al Mansouri said the UAE-Malaysian Business and Investment Forum reflects the strong relations between the two countries and expressed confidence in entering into a new phase of mutual work.

Mustapa Mohamed emphasised on the importance of the UAE's economic significance in the Middle East in light of its many achievements and inclusion across leading indices that witnessed the appreciation of the international community. The minister praised the UAE leadership's continuing interest in enhancing the role of innovation and the realisation of visions of development that serve the objectives of sustainable development.

The meeting also covered talks on enhancement of fields of economic cooperation, which included ways on how to provide essential facilities to investment entities and institutions in the UAE and Malaysia; and the establishment of joint ventures, particularly in the fields of innovation,  technology, halal industry, renewable energy and SMEs.

- business@khaleejtimes.com