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Cambodia-UAE Examining Possibility of Establishing FTA and Promoting Investment Opportunities Between the Two Countries

Dubai: On the occasion of the celebration of the National Day of Cambodia at the World Expo 2020 in Dubai, the Minister of Commerce and Chairman of the Inter-Ministerial Commission to organize and participate in the World Expo and International Trade Fair, Pan Sorasak, led a Cambodian Delegation to hold a bilateral meeting with the Minister of International Trade of the United Arab Emirates (UAE), Dr. Thani bin Ahmed Al Zeyoudi, to promote investment opportunities between the two countries, on Monday, 24 January.

Minister Thani bin Ahmed Al Zeyoudi  commended the Royal Government of Cambodia for its support and participation in the six-month Dubai World Expo 2020. He informed the Cambodian delegation about the economic, trade and tourism situation of the UAE and requested the Cambodian side to provide information on investment potential in Cambodia and to learn more about joint ventures in the future.

He stated that he wants a working group to study and examine the possibility of signing a free trade agreement (FTA) between the two countries, as the UAE has done with India and some ASEAN countries in the past, in order to increase economic cooperation and trade between the two countries.

Minister Pan Sorasak said that Cambodia has many favorable natural resources, thousands of agricultural products and many potential sectors that are developing, such as tourism, coastal areas, culture, ancient temples (especially Angkor Wat) transportation, and airports, ports, roads, buildings, and more that the UAE can come to invest in Cambodia.

He stressed that Cambodia also has a bilateral free trade agreement with China and the Republic of Korea and is continuing to study the negotiations for a FTA with major partners such as Japan, India, Mongolia, Canada and the United Kingdom, to diversify markets and promote exports in line with the Royal Government of Cambodia's fourth phase of the Rectangular Strategic Policy. Minister Pan Sorasak also agreed with the UAE to set up a working group to study the possibility of signing a FTA.

During the talks, the two countries also agreed to invite a delegation to pay an official visit to their respective countries to learn more about joint investment opportunities in various potential sectors and to promote FTAs between the two countries in the future.



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