Kuala Lumpur – Prime Minister of Malaysia, Anwar Ibrahim, has commenced his working visit to the United Arab Emirates (UAE) with a meeting with His Highness Sheikh Mohamed bin Zayed Al Nahyan, the President of the UAE and Supreme Commander of the UAE Armed Forces, at Qasr Al Shati Palace.
Accompanied by Malaysia’s Foreign Minister, Datuk Seri Dr Zambry Abdul Kadir, and Minister of Investment, Trade, and Industry (MITI), Tengku Datuk Seri Zafrul Abdul Aziz, the session provided a platform for exchanging views and ideas on global-local issues, as well as discussions to strengthen existing cooperation and relations. The focus of these discussions included areas such as the economy, trade, investment, renewable energy, food security, and more, aligning with the shared vision of both countries for a sustainable and prosperous future.
In an effort to further expand the existing relationship, Malaysia and the UAE will establish cooperation through an investment memorandum of understanding between the Malaysian Investment Development Authority (MIDA) and the UAE International Investment Council (UAEIIC). Additionally, both countries will explore cooperation in the renewable energy sector through a memorandum of understanding (MOU) between MIDA and Abu Dhabi Future Energy Company PJSC – MASDAR. The aim of this MOU is to jointly develop a capacity of 10 gigawatts, valued at USD 8 billion, in renewable energy in Malaysia by 2025.
The cooperation between Malaysia and the UAE in trade and investment is also harmonized with the appointment of Tan Sri Tengku Muhammad Taufik Tengku Kamadjaja, President and CEO of Petronas, as the Chairman of the Malaysia-UAE Business Council (MUBC), while Rashid Alblooshi, Senior Vice President of Mubadala Energy, represents the UAE.
Insha-Allah (God willing), Malaysia and the UAE will continue to explore closer cooperation and relations to strengthen the economies of both countries. (*)