UAE, Malaysia Sign Comprehensive Economic Partnership Agreement

The agreement is designed to accelerate bilateral trade, promote private sector collaboration, and create new opportunities for investment in high-growth sectors. WAM
The agreement is designed to accelerate bilateral trade, promote private sector collaboration, and create new opportunities for investment in high-growth sectors. WAM
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UAE, Malaysia Sign Comprehensive Economic Partnership Agreement

The agreement is designed to accelerate bilateral trade, promote private sector collaboration, and create new opportunities for investment in high-growth sectors. WAM
The agreement is designed to accelerate bilateral trade, promote private sector collaboration, and create new opportunities for investment in high-growth sectors. WAM

The United Arab Emirates and Malaysia have signed a Comprehensive Economic Partnership Agreement (CEPA) during a ceremony witnessed by President Sheikh Mohamed bin Zayed Al Nahyan and Malaysian Prime Minister Anwar Ibrahim, Emirates News Agency (WAM) reported Tuesday.

The agreement is designed to accelerate bilateral trade, promote private sector collaboration, and create new opportunities for investment in high-growth sectors, WAM said.

The CEPA was signed at Abu Dhabi National Exhibition Center (ADNEC) by Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and Malaysia’s Minister of Investment, Trade and Industry Tengku Zafrul Aziz.

Sheikh Mohamed emphasized the significance of the agreement in strengthening the economies of both nations, noting that it is a pivotal milestone in UAE-Malaysia relations.

He remarked that Malaysia, with its fast-growing economy and pro-trade policies, is a vital partner in Southeast Asia. He noted that the agreement aims to deepen cooperation in key sectors, reinforce supply chains, unlock investment potential, and open new doors for the two countries’ private sectors to thrive together.

The UAE-Malaysia CEPA will reduce or eliminate tariffs on a wide range of goods, streamline trade procedures, and enhance market access for service exports. Malaysia, Southeast Asia’s fourth-largest economy, is already one of the UAE’s top trading partners in the ASEAN region, with non-oil bilateral trade reaching $4.9 billion in 2023 and $4 billion in the first nine months of 2024. The UAE is also Malaysia’s second-largest trade partner in the Arab world, accounting for 32% of Malaysia’s trade with Arab nations.

The agreement is projected to solidify the UAE as a strategic hub for Malaysian exports to the Middle East, North Africa, and beyond while opening the ASEAN market to UAE investors and entrepreneurs.

The UAE’s CEPA program is a cornerstone of its efforts to drive non-oil foreign trade to AED 4 trillion ($1.1 trillion) by 2031 and foster international cooperation with strategic markets such as the ASEAN bloc, which boasts a GDP of more than $2.9 trillion and a population of 647 million people.



Gold Extends Gains as Trump Tariffs Fuel Safe Haven Flows

Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo
Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo
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Gold Extends Gains as Trump Tariffs Fuel Safe Haven Flows

Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo
Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo

Gold prices rose for a second straight session on Tuesday, but traded below the recent all-time highs, as uncertainty around US President Donald Trump's tariff plans continued to fuel economic growth concerns and safe haven flows into bullion.

Spot gold gained 0.6% at $2,913.79 an ounce as of 0714 GMT. It hit a record high of $2,942.70 last week.

US gold futures added 0.9% to $2,925.50.

"Trump's disruptive modus operandi, aggressive rhetoric and tariffs - whether actual or threatened - could unravel global trade and intricate supply chains," said Nikos Tzabouras, senior financial writer at trading platform Tradu, Reuters reported.

"With uncertainty surrounding the global economy and the broader geopolitical landscape in the Trump 2.0 era, gold is set to remain a natural beneficiary of risk-off flows and central bank buying."

Since taking office last month, Trump has swiftly redrawn the global trade battlefield with a series of tariffs, while plans are already in motion for sweeping reciprocal tariffs, aimed squarely at any nation that taxes US products.

"Gold continues to benefit from the uncertainty surrounding the US. government's tariff policy. Central bank buying should also continue to provide support, even if there is no new data on this," Commerzbank analysts said in a note.

The market's focus has now shifted to the US Federal Reserve's January meeting minutes due on Wednesday for clues into the central bank's interest rate trajectory.

"Price gains are also supported by growing expectations that the Fed will cut rates in 2025 - a sentiment that gained further traction among traders after last week's disappointing US retail sales figures," Ricardo Evangelista, senior analyst at brokerage firm ActivTrades, said.

Bullion benefits from geopolitical and economic uncertainties, as well as rising price pressures, but higher interest rates diminish the asset's allure.

Spot silver fell 0.9% to $32.50 an ounce. Platinum jumped 0.9% to $985.20 and palladium climbed 1.6% to $978.00.