UAE Ministry of Investment Signs MoU with Malaysia's Perak Corporation to Boost Food Security and Trade
The UAE Ministry of Investment and Malaysia's Perak State Development Corporation have signed a Memorandum of Understanding to strengthen cooperation in food security and infrastructure development, marking a new chapter in bilateral trade relations.
Signed by UAE Minister of Investment Mohamed Hassan Alsuwaidi and Yab Dato' Seri Haji Saarani Bin Mohamad, Chairman of Perak State Development Corporation, the agreement sets the stage for joint investment initiatives focused on sustainable food systems and logistics.
A key component of the partnership includes developing the Bagan Datuk International Sea-Hub Multipurpose Terminal in Perak. The strategic project is expected to enhance global supply chain connectivity and support Malaysia's role as a regional hub for food exports.
The MoU builds on the Comprehensive Economic Partnership Agreement (CEPA) signed between the UAE and Malaysia in January 2025, reinforcing both nations' commitment to long-term economic collaboration.
Alsuwaidi stated that the partnership aims to create 'meaningful international collaborations that deliver tangible value' and support 'regional supply chain resilience.'
Saarani noted that the terminal will serve as a 'critical gateway' for Malaysia's food exports while supporting broader infrastructure and agricultural growth.
The UAE and Malaysia continue to deepen economic ties, with non-oil bilateral trade reaching $4.9 billion in 2023 and $4 billion in the first nine months of 2024. The UAE is Malaysia's second-largest trading partner in the Middle East, while Malaysia ranks as the UAE's 12th largest Asian trading partner.
News Source: Emirates News Agency
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