PHNOM PENH: Cambodia yesterday signed the Comprehensive Economic Partnership Agreement (CEPA) with the United Arab Emirates (UAE) aiming to boost their bilateral trade and investment activities.
The signing ceremony took place here at the Peace Palace between H.E. Pan Sorasak, Cambodian Minister of Commerce, and visiting H.E. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade of UAE, under the witness of Cambodian Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen.
According to the Cambodian Ministry of Commerce, CEPA will contribute to strengthening bilateral relations by opening market channels more widely and providing more opportunities for investment for mutual benefits as well as deepening cooperation in other economic activities.
CEPA covers trade in goods, rules of origin, customs procedures and trade facilitation, sanitary and phytosanitary measures, trade barriers, trade in services, digital trade, intellectual property, economic and trade cooperation, SMEs, dispute resolution mechanisms, and so on.
CEPA is the third bilateral free trade agreement between Cambodia and its partners, after the Cambodia-China Free Trade Agreement and the Cambodia-Korea Free Trade Agreement, which entered into force on Jan. 1, 2022, and Dec. 1, 2022, respectively.
This morning, at a get-together with some 18,000 factory workers and employees in Kampong Chhnang province, Prime Minister Samdech Tech Hun Sen said UAE is a key distribution hub despite its small population. UAE investors can invest in Cambodia and export processed goods to other countries.
