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  • Writer's pictureTeam CargoTalk

UAE, Kingdom of Cambodia finalize trade agreement

The UAE and the Kingdom of Cambodia have concluded the terms of a Comprehensive Economic Partnership Agreement (CEPA), paving the way for a new era of trade and investment cooperation between the two nations. The successful conclusion of negotiations was confirmed with the signing of a joint statement by His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade and His Excellency PAN Sorasak, Cambodia’s Minister of Commerce. The CEPA with Kingdom of Cambodia will serve as a catalyst to increase and diversify bilateral trade by substantially eliminating tariffs, reducing non-tariff trade barriers promoting trade in goods, services, and investment. It builds on growing UAE-Cambodia economic ties in 2022, resulted in non-oil trade exceeding US$401 million, which represents a growth of 31 per cent compared to 2021 and 146 per cent more than 2019.

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