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NEW YORK – In what appears to be a calculated move to expand Malaysia’s trade and investment scope in different continents, the Foreign Ministry held three strategic meetings with economically surging nations from the Middle East, Africa, and Eastern Europe yesterday.
The discussions with the foreign ministers of the United Arab Emirates (UAE), Rwanda and Hungary were arranged on the sidelines of the ongoing general assembly of the United Nations (UN) here.
Of these, the lowest hanging and ripest fruit is certainly that of the UAE’s.
In a demonstration of the government’s earnestness in this regard, Foreign Minister Datuk Seri Zambry Abdul Kadir announced plans for an official visit by Prime Minister Datuk Seri Anwar Ibrahim to the UAE.
Putrajaya is banking on sizeably enhancing commerce with West Asia by sealing a formal economic agreement with the UAE, which is currently Malaysia’s largest trading partner and foreign investor from the region.
As it is, the total trade between both countries saw a significant jump from just January to April this year, with a 5.7% increase – from RM11.25 billion to RM11.89 billion.
“The positive investment figure indicates the close relationship between the two countries,” Zambry said.
What makes the prospect additionally opportune is that the UAE will be hosting the next session of the Conference of the Parties (COP28) to the UN Framework Convention on Climate Change (UNFCCC) at Expo City in Dubai from November 30 to December 12.
Zambry stressed that the two countries are looking into signing a comprehensive economic partnership agreement (Cepa) in time for Anwar’s visit at a date to be determined soon.
He said this after a bilateral meeting with Sheikh Abdullah bin Zayed Al Nahyan, the foreign affairs minister of the UAE, in New York yesterday.
The meeting was held on the sidelines of the 78th United Nations General Assembly being held here this week.
“Many things will be unveiled during the prime minister’s official visit to the UAE in the future,” Zambry said in a Facebook post.
Among the various issues discussed by the two ministers were the formation of a joint committee for cooperation (JCC) between Malaysia and the UAE, as well as expediting the signing of the Cepa prior to Anwar’s visit.
Zambry added that the UAE has requested Malaysia’s support regarding the preservation of the mangrove forests under the 2030 Sustainable Development Goals (SDG2030) agenda.
Fertile prospects in Rwanda
Efforts are also being made to expand trade with Rwanda, the central African nation acclaimed for being one of the continent’s fastest growing economies.
Zambry held a bilateral meeting with Vincent Biruta, Rwanda’s foreign affairs and international cooperation minister, also at the UN general assembly.
In 2022, Rwanda’s real GDP grew by an impressive 8.2%, with the agricultural sector contributing to it by some 33%.
Tea and coffee are the major exports while plantains, cassava, potatoes, sweet potatoes, maize, and beans are the most productive crops.
“During this meeting, both of us agreed to increase bilateral cooperation and trade in areas of mutual interest such as education, agriculture and the palm oil industry,” Zambry said.
“This meeting also opened an opportunity for both Malaysia and Rwanda to exchange views on multilateral and international issues.”
Zambry noted that Rwanda has fertile land and a terrain that is so hilly that the country is referred to as “Land of a Thousand Hills”.
Exploring Hungarian interest
Earlier, Zambry held a bilateral meeting with Péter Szijjártó, Hungarian foreign affairs and trade minister, on the eve of the general assembly.
“This was my first meeting with him. In the discussions held, the two of us agreed to strengthen trade and investment cooperation as well as improve the citizen-to-public relations between Malaysia and Hungary in various areas of mutual interest, such as education, agriculture, palm oil industry and tourism.
“The meeting also gave Malaysia and Hungary an opportunity to exchange views on current issues and at the same time further strengthen regional cooperation in various new sectors,” Zambry said.
He invited Szijjártó to make an official visit to Malaysia and further assess the plus point of cooperation.
Hungary, now bouncing back from a recession, has a population of almost 10 million people and has maintained diplomatic relations with Malaysia since 1969. – The Vibes, September 20, 2023
