The second round of negotiations for the Cambodia-United Arab Emirates (UAE) Comprehensive Economic Partnership Agreement (CEPA) kicked off here at Sofitel Phnom Penh Phokeethra yesterday.
The three-day meeting is chaired by H.E. Pan Sorasak, Cambodian Minister of Commerce, with the participation of H.E. Ms. Tekreth Kamrang, Secretary of State at the Ministry of Commerce and Negotiation Team Leader for Cambodia and visiting H.E. Juma Mohammed Al Kait, Assistant Under-Secretary at the UAE Ministry of Economy for Foreign Trade Affairs and Negotiation Team Leader for UAE.
The two team leaders expressed their commitment to reach Cambodia-UAE CEPA as soon as possible in order to enhance the bilateral trade ties through market diversification, as well as to create investment opportunities and strengthen cooperation in priority areas.
Addressing the opening ceremony, H.E. Minister Pan Sorasak stressed the importance of the Cambodia-UAE CEPA which will continue consolidating the existing friendship between both countries, and boosting growing relations between the Arab world and ASEAN, as well as provide more opportunities for both sides for national economic development.
The second round will discuss the remaining points from the first round and focus on key sectors and sub-sectors such as trade in goods, trade barriers, sanitation and phytosanitation, trade in services, trade facilitation, rules of origin, economic cooperation, trade, investment, intellectual property, and laws and institutions.
The first round of Cambodia-UAE CEPA negotiations was held in Abu Dhabi, UAE on Oct. 24-26, 2022.
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 US$279 million, compared to the same period in 2021.