Malaysia doing big business in the UAE
The UAE Minister for Foreign Trade, Shaikha Lubna, has praised the work of the 165 Malaysian companies operating in the Emirates, after trade between the two countries reached US$5.6 billion in 2009. $2.9 billion of that total was non-oil, with Malaysian companies seizing opportunities in construction, architecture and trading.
She urged Malaysian companies to take even more advantage of the UAE’s business incentives, including its Free Economic Zones, proximity to both Asia and Europe, 100% repatriation of capital and profits, low taxes, business-friendly regulation, and access to affordable natural resources. The Malaysian private sector should pursue chances in other emerging industries like electronics manufacturing, green technology and Islamic finance.
The UAE is Malaysia’s largest trading partner in Western Asia. The 2010 Malaysia Services Exhibition in Dubai was a well-attended showcase of Malaysian industry and both the Malaysian Business Council of the UAE and the Malaysia External Trade Development Corporation (Matrade) organize regular events to further the cause.
source & article: Kaleej Times
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