Prime Minister Datuk Seri Ismail Sabri Yaakob has announced that Malaysia generated RM33.9 billion in potential trade and investment returns from the eight weeks of participation in Expo Dubai 2020, a 200% higher achievement than initially projected.
Expo Dubai has 192 countries taking part with pavilion and exhibitions, Malaysia has both a physical and e-pavilion showcasing 20 plus trade and business programs with over 500 businesses taking part. The participation was headed by the Ministry of Technology and Science with the joint partnership of various other governmental agencies.
Malaysia Pavilion opened its doors with a rainforest theme enabled with 3D projection mapping. The 1,234.56 square meters with net-zero carbon installation was set to present the country’s sustainable vision through several other creative interactive technologies in seven permanent exhibits over the 26 weeks of the expo. The Expo organiser targeted over 25 million visitors at one of the biggest in-person events since the COVID-19 pandemic outbreak.
Malaysia had an initial target of RM8-10 billion in investment MOU’s to be signed, but looking at the latest figures trade volume has surpassed the target by over 200%.
During the launch, MOSTI Minister Dr Adham Baba commented that Malaysia is targeting about 40 MoUs to be signed on a Business-to-Business, Government-to-Government and Government-to-Business level, adding that this would strengthen the prospects of achieving between RM8 billion and RM10 billion in potential business leads.
Among the Gulf Cooperation Council countries, the 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 the year 2020 was valued at USD 4.91 billion, comprising total exports at USD 2.03 billion and total imports at USD 2.88 billion.
