Malaysia has big potential to be a choice investment hub for investors from the United Arab Emirates (UAE) in their pursuit to seek new investment opportunities, particularly in oil and gas, healthcare and construction materials. International Trade and Industry Minister Datuk Seri Mustapa Mohamed said Malaysian companies have the expertise and advantage in these sectors and were prepared to collaborate with the UAE investors. “With the firm commitment between the two countries, I'm convinced Malaysia-UAE bilateral trade relations will scale greater heights besides diversifying into new areas,” he told Bernama at the end of his three-day visit to Dubai. Mustapa said construction material supply and oil and gas had vast growth potential with the emergence of new opportunities. Malaysia also had modern and latest medical and healthcare facilities, he said. During the visit, Mustapa and UAE External Trade Minister Sheikha Lubna Al Qasimi opened the Third Malaysia Services Exhibition 2010 (MSE 2010) at the Dubai International Exhibition and Convention Centre on April 13. Though UAE is a small nation, with less than five million population, UAE absorbed 43.31 percent of Malaysia's exports to the Middle East. Malaysia-UAE two-way trade has expanded more than three-fold over the last decade from $1.16 billion in 2000 to $4.59 billion last year. However, merchandise trade between the two countries declined by 22.85 per cent to $4.59 billion last year as compared with $6.29 billion in 2008, while trade services dwindled by 3.5 per cent to $55.7 billion last year from $57.7 billion in the previous year. In 2009, the UAE was Malaysia's major trading partner from the Middle East. Among Malaysia's main exports to UAE are jewelry (36.1 percent), electrical and electronics (28.8 percent), wood-based products (4.6 percent) and palm oil (4.6 percent).
