Friday, October 27, 2023

Abu Dhabi and Kuala Lumpur to Begin Talks on Bilateral Trade Deal in UAE


The UAE and Malaysia have announced plans to negotiate a Comprehensive Economic Partnership Agreement, which will cover trade in goods and services, investments, and economic cooperation. The UAE has been pursuing this type of bilateral trade deal with various countries since 2021. The UAE is Malaysia’s 17th trade partner globally and the second in the Middle East, accounting for 32% of Malaysia’s trade with Arab countries. Abu Dhabi National Oil Co. has increased the stake size of its marine and logistics unit in an initial public offering, potentially raising $769m. Meanwhile, Abu Dhabi’s Mubadala Investment Co. has signed “definitive agreements” to acquire 90.01% of the equity of Fortress Investment Group from SoftBank Group Corp.

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