PETALING JAYA: Malaysia is leveraging trade and investment opportunities at the Expo 2020 Dubai and anticipates about 40 memorandums of understand to be signed at business-to-business, government-to-government and government-to-business levels, which will strengthen the prospects of achieving between RM8 billion and RM10 billion in potential business leads.
Malaysia, which has always viewed the world expo as an important platform for global collaboration and trade and business opportunities, will be among 192 countries participating in Expo 2020 Dubai, which runs from Oct 1, 2021 to March 31, 2022.
Among the Gulf Cooperation Council countries, the United Arab Emirates (UAE) is Malaysia’s largest trading partner and export destination. It is also Malaysia’s second largest import market after Saudi Arabia. Total bilateral trade in 2020 was valued at US$4.91 billion (RM20.4 billion), comprising total exports at US$2.03 billion and total imports at US$2.88 billion.
Malaysia’s exports to the UAE are primarily electrical and electronic products, jewellery, petroleum products, machinery, equipment and parts, processed food, metal products, palm oil related products, chemicals and chemical products, rubber products, transport equipment and textiles.
Malaysia’s representation at Expo 2020 Dubai will come from 21 government ministries, 70 government agencies, and five state governments. About 300 companies will participate in the weekly trade and business programmes.