Trade Mission to the Middle East

Senior Minister and Minister of International Trade and Industry (MITI), YB Dato’ Seri Mohamed Azmin Ali will lead a Trade and Investment Mission (TIM) to the Kingdom of Saudi Arabia (KSA) and the United Arab Emirates (UAE) from 26 April to 4 May 2021. This mission is part of the continuous effort by MITI to promote business opportunities and strategic partnerships between Malaysia and the West Asia region.

Furthermore, the mission is aimed to keep the momentum of economic relations between Malaysia and both the nations, following the official visit of YAB Prime Minister Tan Sri Muhyiddin Yassin to the KSA and the UAE last March. 

The mission is expected to reinforce the value proposition of Malaysia as the preferred investment destination and trading partner by boosting the confidence of the business communities in the KSA and the UAE. Both these countries are among the most important trading and investment partners in West Asia and Malaysia hopes to elevate this deeply rooted partnership to a more strategic level in the sphere of quality investments and diversified trade.

During his visit to KSA, Dato’ Seri Mohamed Azmin Ali will meet H.E. Dr Majid Abdullah Alkassabi, Minister of Commerce and Chairman of the Board of Director of The General Authority of Foreign Trade; and H.E. Bandar I. Al Khorayef, Minister of Industry and Mineral Resources. In UAE, Dato’ Seri Mohamed Azmin Ali will be meeting H.E. Abdulla bin Touq Al Marri, Minister of Economy; and H.E. Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade. During this mission, Dato’ Seri Mohamed Azmin is expected to meet other senior ministers of both countries. 

The meetings will discuss key bilateral issues and collaboration in areas of mutual interest, including bilateral and regional economic cooperation, finance and post-pandemic economic recovery measures. Dato’ Seri Mohamed Azmin Ali will brief his counterparts in the KSA and the UAE on the newly minted National Investment Aspirations (NIA), a forward-looking growth framework that will form the basis for comprehensive reforms of Malaysian investment policies. NIA will be central to Malaysia's new investment direction, offering various opportunities for investors from the KSA and the UAE.

Besides the official meetings, the Senior Minister will also be conducting one-to-one business meetings with prominent Saudi and Emirati companies, as well as potential investors, to further explore new business opportunities and collaboration in the oil and gas, healthcare and retail industries.

Dato’ Seri Mohamed Azmin Ali will also be witnessing the signing of Memorandum of Business Exploration (MOBE) between UEM Edgenta Bhd., a subsidiary of Khazanah Nasional Bhd., and ASMA Advanced Solutions LLC in Riyadh. This MoU signifies a strategic venture by a Malaysian company in the healthcare support services and integrated facility management market in Saudi.

In 2020, the KSA was Malaysia’s second-largest trading partner and largest source of import in the West Asia region. Total trade between both countries was recorded at RM20.27 billion (USD4.83 billion) with Malaysia’s exports to the KSA amounted to RM4.13 billion (USD0.99 billion) and imports value at RM16.14 billion (USD3.84 billion). Main investments from KSA include chemicals and chemical products, food manufacturing, electronics and electrical products, and textiles.

Meanwhile, the UAE is Malaysia’s largest trading partner and largest export destination in the West Asia region for 2020. Total trade between both countries stood at RM20.59 billion (USD4.92 billion) with total exports to the UAE amounted to RM8.49 billion (USD2.03 billion) while imports were at RM12.10 billion (USD2.89 billion). The main source of investments from the UAE were in the machinery and equipment sectors, halal pharmaceutical and food manufacturing.

Dato’ Seri Mohamed Azmin Ali will be accompanied by a small delegation of senior officials from MITI, Malaysian Investment Development Authority (MIDA) and Malaysia External Trade Development Corporation (MATRADE). The mission will be subjected to strict COVID-19 Preventive Standard Operating Procedures (SOPs) as agreed upon by Malaysia’s Ministry of Health (MOH) and National Security Council (NSC) as well as by the Government of KSA and the Government of UAE. MITI’s delegation is required to undergo mandatory quarantine as soon as they return to Malaysia as prescribed by MOH.