Advancing Economic Relations: Cambodia and UAE to Accelerate Comprehensive Economic Partnership Agreement
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In a commitment to strengthen their economic ties, Cambodia and the United Arab Emirates (UAE) have recently concurred to fast-track the application of the Comprehensive Economic Partnership Agreement (CEPA). During a courtesy meeting on May 13, 2024, His Excellency SOK Chenda Sophea, Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation of Cambodia, met with His Excellency Obaid Saeed Obaid Bintaresh Ald-haheri, UAE Ambassador with residency in Bangkok, to discuss the CEPA’s significance in enriching bilateral relations.
The agreement, signed in June 2023, is set to bolster cooperation by broadening trade in goods and services, expanding investment opportunities, catalyzing job creation, and supporting collective growth in various sectors through mutual benefits. The two dignitaries recognized the considerable enhancements the CEPA would bring to both nations’ economies and the steps required to expedite its realization.
During their discussion, the esteemed representatives lauded the strong, enduring friendship and the robust collaboration that has developed between Cambodia and the UAE since the commencement of diplomatic relations in 1994. They confirmed their dedication to fostering even closer bilateral relations and to supporting each other’s positions in international assemblies, highlighting a shared vision for prosperity and development.
The Deputy Prime Minister and the Ambassador also deliberated on opportunities for heightening bilateral trade and investments, and proposed initiatives to boost tourism—a sector with massive potential for fostering people-to-people connections and cultural exchange.
As Cambodia and the UAE look to the future, these discussions not only reinforce an enduring partnership but also set the stage for economic development and enhancement of ties at numerous levels. Both nations anticipate considerable growth through the accelerated implementation of the CEPA, paving the way for a new chapter in the legacy of Cambodian-UAE relations.
The meeting served as a strategic forum for aligning efforts, setting a progressive tone for the script of future cooperation by reinforcing the essential bases upon which both countries will take firm steps towards a remarkably interconnected economic landscape.
Source: MFAIC
