Kuala Lumpur: The UAE Ministry of Investment announced the signing of a Memorandum of Understanding (MoU) with the Perak State Development Corporation in Malaysia, which is aimed at enhancing co-operation in food security and developing the Bagan Datuk International Sea-Hub Multipurpose Terminal in Perak.
According to the Emirates News Agency (WAM), the MoU was signed by Mohamed Hassan Alsuwaidi, UAE Minister of Investment, and Yab Dato’ Seri Haji Saarani Bin Mohamad, Chairman of the Malaysian corporation.
The MoU builds on the Comprehensive Economic Partnership Agreement signed between the two countries in January to explore investment opportunities supporting global supply chains and sustainable development.
Economic relations between the two countries are growing, with non-oil bilateral trade reaching US$4.9 billion in 2023 and US$4 billion in the first nine months of 2024, reinforcing the UAE’s position as Malaysia’s second-largest trading partner in the Middle East.
UAE, Malaysia’s Perak State Development Corporation sign MoU
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