H.E. Sheikha Lubna urges UAE & Malaysian businesses to boost strategic alliances at 2009 Malaysia Services Exhibition
UAE Minister of Foreign Trade reaffirms confidence in Malaysian companies, notes role of UAE as regional business platform
UAE Minister of Foreign Trade H.E. Sheikha Lubna Al Qasimi called on Malaysian and UAE businesses to enhance their strategic alliances during a speech she delivered today (Tuesday, March 17, 2009) at the 2009 Malaysia Services Exhibition (MSE) running from March 17 to 19, 2009 at the Dubai Airport Expo Exhibition Centre.
MSE 2009 follows the enormous success of MSE 2008 in Sharjah and is the second in a series of service exhibitions organized by Malaysia External Trade Development Corporation, the national trade promotion agency of Malaysia. Also present during the event were Mr. Muhyiddin Yassin, Malaysian Minister of International Trade and Industry, and other officials.
H.E. Sheikha Lubna said: “During these difficult times, it is imperative for the business community to strengthen their strategic alliances and work together in identifying all avenues to enhance business collaborations. We should look at adversity as the driver of creativity and focus our energies to look beyond the threats of the global economic slowdown and to identify the opportunities for growth and innovation.”
“The UAE business community has a deep-rooted confidence in Malaysian companies and a strong anticipation for conducting new partnerships. Our nation is an ideal springboard for establishing business ties within the region. This is due to our strategic location, our long trading tradition, and our well-developed infrastructure and support services,” H.E. added.
The Minister acknowledged the presence of more than 70 Malaysian companies operating successfully in the UAE, mostly involved in trading, construction and architecture. She enumerated several prominent domestic projects participated in by Malaysian firms, such as the Dubai International Financial Centre buildings; The Atlantis, Oceana Hotel and luxury flats at the Palm Jumeirah; Burj Dubai; Zone C of Abu Dhabi’s Al-Reem Island Project; and Abu Al Shuoom Island, another major Abu Dhabi-based development.
Trade between the UAE and Malaysia rose 44 per cent to AED 20.85 billion in 2008, boosted mainly by Malaysian imports of petroleum products. Malaysia exports to the UAE grew 24 per cent to AED 12.55 billion in the same year, while its imports increased by around 89 per cent to AED 8.39 billion, making the Emirates its top exporter for the period. UAE imported mainly jewellery, chemicals, electronics, processed foods, palm oil, and iron and steel products from the Malaysia, while its major exports to the Southeast Asian nation were crude and refined petroleum products.
