Latest news with #HajiSaaraniBinMohamad
Hi Dubai
11 hours ago
- Business
- Hi Dubai
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
Sharjah 24
3 days ago
- Business
- Sharjah 24
UAE, Malaysia ink deal to boost food security
The agreement also includes the development of the Bagan Datuk International Sea-Hub Multipurpose Terminal in Perak State, reinforcing both parties' commitment to global supply chains and sustainable economic growth through strategic infrastructure development. High-level signatories reflect deep bilateral commitment The MoU was signed by Mohamed Hassan Alsuwaidi, Minister of Investment, and Yab Dato' Seri Haji Saarani Bin Mohamad, Chairman of Perak State Development Corporation. Building on UAE-Malaysia CEPA framework The two parties will collaborate to explore investment opportunities in food security, building on the Comprehensive Economic Partnership Agreement (CEPA) signed between the UAE and Malaysia in January 2025. Statements from leaders Mohamed Hassan Alsuwaidi stated: 'This Memorandum with the Perak State Development Corporation underscores our shared commitment to bolstering regional supply chain resilience and driving sustainable development. Through this partnership, we aim to create meaningful international collaborations that deliver tangible value to both parties, while also contributing to the stability of the global food system.' Yab Dato' Seri Haji Saarani Bin Mohamad added: 'We are pleased to formalise this partnership with the UAE Ministry of Investment, which will advance our agricultural sector and infrastructure development objectives, and our role in global food security. The Bagan Datuk International Sea-Hub Multipurpose Terminal will serve as a critical gateway for Malaysia's food exports while strengthening our position in global supply chains. We greatly value our partnership with the UAE and look forward to working together.' Strengthening UAE-Malaysia trade relations The UAE and Malaysia enjoy strong and growing economic relations. Non-oil bilateral trade reached US$4.9 billion in 2023, with US$4 billion recorded in the first nine months of 2024. The UAE is Malaysia's second-largest trading partner in the Middle East, accounting for 32% of Malaysia's trade volume with the region. Malaysia ranks as the UAE's 12th largest Asian trading partner.
