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Business : M’sian Firms Urged To Tap UAE Market, Says Matrade

KUALA LUMPUR, Aug 19 (Bernama) — Malaysian companies are urged to tap the booming market in the United Arab Emirates (UAE), one of the leading trading partners for Malaysia in the Middle East.

“About 50 Malaysian companies operating in the UAE have ventured into various sectors such as construction, services, building materials, consultation, interior design, franchise and engineering services,” said Malaysia External Trade Development Corporation (Matrade) Deputy Chief Executive Officer Datuk Dzulkifli Mahmud.

Malaysian companies, particularly those in the construction sector, have established a name in the UAE with projects worth US$ 4.77 billion, he said.

Prominent projects include the Formula 1 Circuit on Yas Island in Abu Dhabi, Al-Fattan Office Building Marina in Dubai and Rihan Heights in Arzanah, Abu Dhabi.

Dzulkifli said this in his opening speech at the seminar on “Ras Al Khaimah Free Trade Zone, UAE: Your Getaway to the UAE and the Middle East Markets”, here today.

Bilateral trade between Malaysia and the UAE in 2013 was valued at US$ 8.81 billion, up from US$ 8.03 billion in 2012.

He said total exports from Malaysia to the UAE inched up to US$ 4.02 billion in 2013 from US$ 4.01 billion a year earlier while imports rose to US$ 4.78 billion last year from US$ 4.01 billion in 2012.

— BERNAMA

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