UAE trade delegation visit malaysian technology

An official UAE trade delegation today visited the Malaysian Technology Development Corporation, MTDC, located in the Selangor area of the Malaysian capital, Kuala Lumpur, to explore prospects and boost investment opportunities for Small and Medium-Sized Enterprises, SME’s, on both sides.

The high-ranking delegation, which arrived yesterday on a 4-day visit, comprises more than 50 representatives from the Ministry of Economy and the Council of Small and Medium-Sized Enterprises and Projects, SMEs Council, members of the public and private sectors from the UAE, businessmen, entrepreneurs, and other government officials. The trip is also fully backed by the SME’s Council, the organisation’s first involvement in an official government visit.

Speaking after a presentation from MTDC officials, Abdullah Al Saleh, Under-Secretary of the Ministry of Economy for Foreign Trade and Industry Affairs, who is leading the delegation, said, "The aim of this visit, aside from participating in the Small and Medium-Sized Enterprises Annual Showcase, SMIDEX, is to build a partnership with Malaysia and help connect our companies with their Malaysian counterparts for the benefit of both sides."

MTDC is a government-backed organisation founded in 1992 to provide integrated commercialisation solutions to help build world-class Malaysian technology companies through connecting start-up businesses with strategic partners. MTDC first identifies the products ready to be introduced to the market. So far, the corporation funds almost 700 Malaysian companies.

One of MTDC’s objectives is to also expand its international partnerships, and the UAE is one of the most influential countries the corporation hopes to break into. "The UAE has become a central hub for the GCC and Europe, and that’s why we have a strong interest in having a healthy relationship with the UAE. We hope that after this visit we will build a platform for collaboration opportunities and expand our network there, especially with the government," said Abdul Rahman Yasir, Senior Vice President at the Business Development Department in MTDC.

The delegation also visited another prominent innovation centre and business incubator, the Technology Park Malaysia, which supports more than 3,000 Malaysian and international companies, especially ICT firms.

Senior UAE delegate, Khalid Obaid Al Hajeri, Director-General of the Sharjah Chamber of Commerce and Industry, said that the main aim of the visit is to discover the Malaysian experience and find the best opportunities it has to offer. "We are here to open new markets for our young entrepreneurs and SME’s. We want to develop the SME sector in Sharjah and create the best benchmark in Kuala Lumpur, because there are many funds supporting SME’s in Sharjah," he said.

Speaking on what Sharjah has to offer countries like Malaysia, Al Hajeri said, "Sharjah is a main connecting hub for the Far East and Europe. That’s why Cathy Pacific uses Sharjah Airport as a cargo hub between Europe and the Far East, saving 50% of time and cost."

Tomorrow, the delegates are due participate in the 19th edition of SMIDEX 2016, being held until May 19th at the Kuala Lumpur Convention Centre. Under the theme, ‘SME’s Rising to The Challenge,’ the annual event will see the convergence of SME’s large companies and multinational corporations to showcase their capabilities and capacities in producing products, services and technologies for the global market.

On the sidelines of the visit, officials from the Ministry of Economy will be negotiating two MoU's, one on SME'S, and the other on innovation with the Malaysian side.

Source :WAM