Welcome Remarks by YB Deputy Minister of MITI, at Business Roundtable Meeting
- Category: Speeches 2014
Welcome Remarks by YB Datuk Ir. Hj. Hamim Samuri
Deputy Minister of International Trade and Industry
at Business Roundtable Meeting in Conjunction With The Visit of
His Excellency Eng. Sultan Bin Saeed Al Mansoori
Minister of Economy, United Arab Emirates
27 February 2014
Bismillahirrahmanirrahim
His Excellency Eng. Sultan Bin Saeed Al Mansoori
Minister of Economy, United Arab Emirates
His Excellency Abdulla Matar Al Mazroui
Ambassador of UAE to Malaysia
Excellencies,
Members of the UAE delegation
Distinguished guests, Ladies and Gentlemen,
Assalamualaikum warahmatullahi wabarokatuh and a very good afternoon.
It is with great pleasure that I welcome His Excellency Eng. Sultan Bin Saeed Al Mansouri, Minister of Economy, United Arab Emirates and his delegation to Malaysia and to the Business Roundtable Meeting today here in MATRADE.
Ladies and Gentlemen,
Bilateral relations between Malaysia and the United Arab Emirates (UAE) have reached a very good level with the regular exchange of high level visits.
The establishment of Malaysia-UAE Joint Business Council headed by 2 prominent figures from both countries will certainly provide a bright future of further cooperation between our two countries.
About a month ago, The Honorable Dato’ Sri Mustapa Mohamed, Minister of International Trade and Industry was in Bangalore, India to attend The 19th CII Partnership Summit. In Bangalore, he had a bilateral meeting with His Excellency Minister Al Mansouri and today we are delighted to have His Excellency visiting Malaysia with a delegation of 20 businessmen and government officials.
Insya Allah, The Honorable Prime Minister of Malaysia, Datuk Seri Mohd Najib Tun Abdul Razak will be leading a delegation on an official visit to Abu Dhabi, in March 2014.
All these high level visits and your visit to Malaysia today reflect the cordial and close relations between UAE and Malaysia.
Ladies and Gentlemen,
UAE continues to be an important trading partner for Malaysia. Allow me, to share with you, the current bilateral trade and investments between Malaysia and UAE.
Bilateral trade between Malaysia and the UAE in 2013 was valued at US$8.81 billion, an increase of 9.7% compared with the US$8 billion recorded in 2012.
Within the West Asian region and among the GCC countries, UAE was Malaysia’s largest trading partner, largest export destination and the largest import source. Among ASEAN, Malaysia was UAE’s second largest export destination and third largest source of imports.
In terms of investments, as at October 2013, Malaysia approved a total of 25 investment projects with UAE participation in the manufacturing sector. These investments totalled USD23.1 billion.
Malaysian companies also actively participate in trade promotional events in the UAE. In 2014 they will be participating in seven trade fairs in UAE.
Our Malaysian companies, have just concluded participation in Arab Health 2014 and Gulfood 2014, both in Dubai. They will also be participating in Water, Energy, Technology and Environment Exhibition (WETEX)2014; Dubai International Brand Licensing Fair 2014; and The BIG 5 Building and Construction shows in Dubai. In addition they will also participate in SIAL Middle East 2014 and Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2014 in Abu Dhabi.
Participation in these fairs has proven beneficial for Malaysian companies as they try to make inroads into the GCC markets. They will continue to use Dubai as the main entry point into the region.
There is also a large number of Malaysians in UAE. The latest statistics shows that there are close to 6000 Malaysians working and living in the UAE. Two thirds are working in Dubai and the Northern Emirates while the rest are in Abu Dhabi. Most of them are professionals in various sectors, mainly in the oil and gas, finance and banking, constructions and tourism.
Many of Malaysian companies are also proudly associated with some of the iconic projects in the UAE. These companies include the Eversendai Corporation Berhad in the Burj Al Arab and Burj Khalifa projects, WCT Holdings Berhad in Yas Marina F1 Circuit, TAK in the development of Meydan Racecourse. We hope to see such collaborations continue.
Ladies and Gentlemen,
The visit of His Excellency Eng Sultan Bin Saeed Al Mansouri and his delegations to Malaysia today reflects the close relations established between Malaysia and UAE. I am confident that with this visit, you will be more convinced that Malaysia offers good opportunities for collaboration in various areas such as in Halal, property, oil & gas, construction, tourism, etc.
The Business Roundtable meeting today will serve as a platform for business leaders and entrepreneurs between our two countries to exchange views and gain insights into trade and investment opportunities in our countries.
Please enjoy your stay in Malaysia. I wish you all a pleasant evening.
Before I invite His Excellency to deliver his remarks, allow me to invite Dato’ Dzulkifli Mahmud, Deputy CEO MATRADE to introduce the representatives of the Malaysian companies present here today.
Thank you
