Malaysia secures over USD47 Million worth of trade and investment from MoUs signed with companies across the Middle East at Expo2020
Malaysian companies present at the Malaysia Pavilion in EXPO 2020 Dubai inked five multi-million dirhams worth of MoUs with UAE-based enterprises in a bid to spur sustainable agriculture between the two nations. The companies also exchanged three other MoUs with companies from Egypt, Germany, and Maldives bringing the total number of MoUs to eight, valued at over AED173 million in potential trade and business opportunities.
Dubbed as the highlight of the Malaysia Pavilion’s Sustainable Agriculture Week at the ongoing EXPO 2020 Dubai, the partnerships formalised with the exchange of MoUs at the programme’s launch today will help Malaysia to promote and expand its potential in sustainable agriculture by establishing strong engagement and strategic partnerships with the UAE and other global players.
According to the Minister of Agriculture and Food Industries Malaysia (MAFI), Datuk Seri Dr. Ronald Kiandee, the MoUs include extensive cooperation in research and development, trade and distribution, market access, commercial activities, investments, technology transfer, as well as sales and marketing of products and services. This will significantly boost the Malaysian government’s sustainable agriculture efforts as well as contribute towards combating climate change.
Key areas of focus in the MoUs include biodiversity to wellness, fruits of the tropical land and its by-products, smart urban farming, smart farming solutions and waste-to-wealth. Special focus will also be given to culinary sustainability, cutting-edge agricultural technologies and solutions, and investment opportunities for agricultural sustainability.
During the much-awaited event, Malaysian companies will also launch and showcase some of their most sought-after agricultural products and services as well as use the platform to break into the regional market using the UAE as a gateway.
Historically, the UAE has been Malaysia’s largest trading partner in the Middle East with total trade between the two nations exceeding US$6 billion in 2019. According to Kiandee, the UAE still remains Malaysia’s preferred agricultural trading partner largely due to its status as the international trade and financial hub for the Middle East and North Africa region.
As part of this strategy and policy formulation, Malaysia is also seeking to adopt new-age mechanisation and automation in an effort to boost its agricultural productivity, system support, services, and to strengthen food value chains that directly contribute to the sustainability of its food system.
The Sustainable Agriculture Week is one of the 26 weekly trade and business programmes hosted by the Malaysia Pavilion.