Phnom Penh: Cambodia and the United Arab Emirates (UAE) are taking steps to further strengthen their trade ties with the official launch of the Cambodia Private Commercial Centre in Dubai.
The launch event took place on February 26, presided over by Mrs. Tekreth Kamrang, Secretary of State at the Cambodian Ministry of Commerce, along with key leaders and officials from both Cambodia and the UAE, as well as representatives from Oneroad Group. This new center marks a pivotal step in bolstering economic ties between the two nations.
According to a statement from the Ministry of Commerce, the Cambodia Private Commercial Centre aims to promote Cambodian products in international markets and provide comprehensive information on Cambodia’s trade, economy, investment, culture, and tourism. This initiative is particularly focused on reaching traders, investors, and tourists from the UAE.
The establishment of this center comes as Cambodia and the UAE continue to strengthen their economic partnership through the Cambodia-UAE Comprehensive Economic Partnership Agreement (CAM-UEA CEPA), which was initiated in October 2021. This agreement underscores the commitment of both nations to expand their trade and economic cooperation.
Trade between Cambodia and the UAE has shown promising growth, with bilateral trade reaching US$151 million in 2021, a 53 percent increase from the previous year. The trade includes a diverse range of products such as clothing, footwear, bicycles, travel goods, tobacco, milled rice, electrical appliances, vehicle components, asphalt, tuber sugars, animal feed, plastics, vehicles, and paper.
The inauguration of the Cambodia Private Commercial Centre in Dubai is expected to further facilitate trade and investment between Cambodia and the UAE, contributing to the economic growth and development of both countries.
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