Dubai and Malaysia to expand trade

Dubai: Dubai and Malaysia on Tuesday signed an agreement to boost their trade and encourage more interaction between UAE business people and their Malaysian counterparts.

UAE-Malaysia trade was about $4.5 billion last year, growing 45 per cent year-on-year on the back of a sharp increase in Malaysian imports of UAE oil and refined products.
The UAE last year became the top Arab exporter to Malaysia.


Malaysia on Tuesday launched a three-day exhibition at Dubai Airport Expo.

Holding such exhibitions has become more important in the current economic slowdown, Malaysian International Trade and Industry Minister Muhyiddin Yassin told reporters.
"This situation will improve. So we cannot stop aggressive marketing for our products and services," he said.

UAE Minister of Foreign Trade Shaikha Lubna Al Qasimi said: "During these difficult times, it is imperative for the business community to strengthen their strategic alliances and work together."


Indonesia, Malaysia vow to boost trade

JAKARTA, March 17 (Xinhua) -- Indonesia and Malaysia agreed on Tuesday to step up trade and investment between the two countries, despite the weakening of global economic activities, leaders of the two countries said here.

The statement was made in a joint press conference by Indonesian President Susilo Bambang Yudhoyono and Malaysian Prime Minister Ahmad Badawi after their meeting as the third annual consultation of the two countries.

The plan comes amid the effort of the Indonesian government to shift the weakening sales of its products in international markets due to the global recession.

During the meeting it was also discussed various of issues at the level of bilateral and regional.
"We discussed important bilateral issues in dealing with economy, especially the efforts to boost trade and investment", President Susilo said.

The president also said that it was discussed the effort to step up cooperation in agriculture to achieve food security and energy security.

"Trade and investment cooperation has given huge benefit for Malaysia and Indonesia," said Badawi on his turn.

Bilateral trade rose to 14.6 billion U.S dollars in 2008 from that of 11.5 billion U.S. dollars in 2007. Malaysia's investment in Indonesia also increased to 353 million U.S. dollars in 2008 from that of 217 million U.S. dollars in 2007.