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UAE to double investments in Malaysia

31 Jan 2011

(MENAFN) Malaysian Prime Minister, Mohammad Najib Abdul Razak, said that Abu Dhabi’s Mubadalah Development Corporation had previously made a deal to invest almost $720 million in infrastructure projects in Malaysia, therefore UAE’s investments in the country are predicted to increase by a hundred percent once transactions are finalized, reported Gulf News.

Abdul Razak also said that his country arranged for negotiations with Gulf cooperation Council (GCC) Secretary-General Abdul Rahman Al Attiyah for attaining a free trade agreement that Malaysia is keen to acquire.

Official data shows that mutual trade between the UAE and Malaysia reached a total of $4.7 billion in 2009. This trade volume went up 20 percent in 2011 amounting to $5.8 billion.

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