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Cambodia continues to negotiate the possibility of requesting the UAE to open more markets
Cambodia continues to negotiate on the possibility of requesting the UAE to open more markets for agriculture, tourism and transportation as the country is Cambodia’s leading trading partner in the Middle East.
During the inter-ministerial consultation of the Comprehensive Economic Partnership Agreement between Cambodia and the United Arab Emirates on January 9, Tek Reth, Secretary of State of the Ministry of Commerce, said that the progress of the negotiation of this agreement, which has already taken two rounds, has achieved results.
The meeting also discussed Cambodia’s ability to provide at the request of the United Arab Emirates and in addition to the United Arab Emirates’ offer regarding market access and national treatment. The main sectors and subsectors include: trade, investment, agriculture, health, engineering, civil construction, tourism, transportation and research.
The analysis for the opening up of the service market must be based on a number of factors, including: domestic industrial capacity, current and future potential, demand, impact on local industry and risk.
In addition, the Secretary of State stressed that trade and service negotiations are important for the benefit of the national economy and requested the participation of all relevant ministries and institutions in the consultation.
In the first eight months of 2022, bilateral trade reached a total of $279 million, an increase of 40 percent over the same period in 2021. The Cambodia-UAE CEPA will continue to promote the development of trade relations between the two countries by opening up markets, creating opportunities for investment and increasing the liberalization environment in other key areas in the cause of economic growth.
Source: https://www.khmertimeskh.com/501217775/cambodia-continues-to-negotiate-the-possibility-of-requesting-the-uae-to-open-more-markets/