The third round of the Cambodia-United Arab Emirates Comprehensive Economic Partnership Agreement (CAM-UAE CEPA) will be held in the UAE next year.
The decision was taken at the second round of the talks concluded recently in Phnom Penh.
The latest talks in Phnom Penh made clear progress in several areas, the Commerce Ministry of Cambodia said in a statement. Cambodia is exploring the export potential for its agricultural products, textiles, footwear and travel (GFT) goods to the UAE, besides other items.
Cambodian Minister of Commerce Pan Sorasak said that an agreement will strengthen the traditional friendship between the two countries and enhance the growing bilateral relations.
UAE is a leading trade partner of Cambodia in the Middle East, which contributes 77 percent of the total trade volume of Cambodia with the region. During the first eight months of this year, the bilateral trade between Cambodia and UAE rose by 40 percent to some $279 million, compared to the same period in 2021.
Major items traded between the two countries include GFT goods, bicycles, tobacco, milled rice, electrical equipment, vehicles and components, animal feed, oil, plastics and paper.
The trade talks with UAE are part of the initiatives of Cambodia’s government to expand trade through bilateral treaties. The Kingdom has already signed Free Trade Agreements with China and Korea in addition to being a party to the Regional Comprehensive Economic Partnership (RCEP) Agreement.
Source: Khmer Times
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<p>Time: 2024 By: Ministry of Industry and Trade</p>
