Cambodia-UAE Bilateral Trade Rises by 40% in First Eight Months

The two-way trade between Cambodia and the United Arab Emirates (UAE) reached almost US$280 million in the first eight months of this year, up over 40 percent compared to same period in 2021.

The figures were shared by H.E. Pan Sorasak, Minister of Commerce of Cambodia, at the Cambodia-UAE Business Forum, jointly organised by both countries’ chambers of commerce in Abu Dhabi, UAE on Oct. 24.

Taking the opportunity, H.E. Pan Sorasak encouraged all UAE investors to actively take part in trade and investment promotion activities, and called on other UAE businessmen and investors who have not done business in Cambodia yet to study the country’s trade and investment potentials in person.

For his part, H.E. Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade of UAE said that UAE is Cambodia’s top trading partner among the Arab countries, accounting for 77 percent of Cambodia’s trade with the Persian Gulf region.

Cambodia’s investment value in UAE was nearly US$1 million in late 2020 which mostly focused on real estate sector while UAE’s investment in Cambodia totaled some US$2.7 million in the first semester of 2022 in the real estate area as well, he added.

H.E. Dr. Thani bin Ahmed Al Zeyoudi pointed out that in addition to garment, footwear, and travel goods, agriculture and food security remain an important part of the focus for opportunities to enhance Cambodia-UAE partnership.

In his role as Chairman of the ASEAN Business Council, Oknha Kith Meng, President of the Cambodian Chamber of Commerce, urged all businessmen to participate in the ASEAN Business and Investment Summit to be held in Phnom Penh on Nov. 9-10, 2022.

Source: Agency Kampuchea Press