Malaysia Plans to Sign Free Trade Agreement with the UAE

Malaysian Trade Minister Tengku Zafrul Abdul Aziz indicated on Tuesday that the country expects to finalize a free trade agreement with the UAE by the end of June. He added that "the agreement will enhance investment in Malaysia through UAE sovereign wealth funds." The two countries began negotiations for a comprehensive economic partnership agreement last year. The Malaysian minister stated in an interview with Reuters during a World Trade Organization meeting in Abu Dhabi, "We are in the final round of discussions." Malaysia hopes to attract UAE investments in the energy, digital economy, electric vehicles, and semiconductors sectors. Mubadala Investment Company, one of the three sovereign wealth funds in Abu Dhabi, already has investments in Malaysia. The UAE has signed a series of bilateral free trade agreements in recent years, including two agreements with India and Israel. The agreements include investment benefits and the elimination of traditional customs duties on goods and services.