PHNOM PENH: The Cambodia-United Arab Emirates (UAE) Business Forum was held on Feb. 27 in Dubai, giving floor to showcase potential and investment opportunities awaiting UAE investors to explore.
The forum was held under the presidency of H.E. Mrs. Cham Nimul, Minister of Commerce of Cambodia, and H.E. Ahmed bin Ali Al Sayegh, UAE’s Minister of State, with participation from government officials and the private sector of the two countries.
The forum is aimed to promote and showcase the business and investment potential of the Kingdom of Cambodia to businesses and investors based in the UAE, a statement from the Council for the Development of Cambodia (CDC) pointed out.
H.E. Soun Sophal, Deputy Secretary General of CDC’s Cambodian Investment Board, presented the investors and businessmen of investment potential and the readiness of Cambodia to facilitate investors who wish to explore Cambodia’s potential and investment opportunities.
“The forum can promote and attract investment and trade to grab the benefits of the Comprehensive Economic Partnership Agreement between the Kingdom of Cambodia and the UAE,” he said.
The Cambodia-UAE Comprehensive Economic Partnership Agreement was put into force on Jan. 31, 2024, after the two countries concluded their talks on the agreement establishment in June 2023.
According to the commerce ministry, trade between Cambodia and the UAE reached US$151 million in 2021, marking a 53 percent increase from 2020.
Key items in bilateral trade include clothing, footwear, bicycles, travel goods, tobacco, milled rice, electrical appliances, vehicle components, asphalt, tuber sugars, animal feed, plastics, vehicles, and paper.