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Cambodia, UAE to Sign CEPA This Afternoon

The Kingdom of Cambodia and the United Arab Emirates (UAE) are going to sign their Comprehensive Economic Partnership Agreement (CEPA) in Phnom Penh this afternoon.At the get-together with some 18,000 workers and employees in Kampong Chhnang province …

The Kingdom of Cambodia and the United Arab Emirates (UAE) are going to sign their Comprehensive Economic Partnership Agreement (CEPA) in Phnom Penh this afternoon.

At the get-together with some 18,000 workers and employees in Kampong Chhnang province this morning, Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen said he will witness the signing ceremony at the Peace Palace, after he received the courtesy visit from H.E. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade of UAE.

Despite its small population, UAE is a key distribution hub, underlined the Cambodian Premier, adding that UAE investors can invest in Cambodia and export processed goods to other countries.

According to the Cambodian Ministry of Commerce, CEPA will contribute to strengthening the bilateral relations through opening market channels more widely, and to providing more opportunities for investment for mutual benefits as well as to deepening cooperation in other economic activities.

CEPA covers trade in goods, rules of origin, customs procedures and trade facilitation, sanitary and phytosanitary measures, trade barriers, trade in services, digital trade, intellectual property, economic and trade cooperation, SMEs, dispute resolution mechanisms, and so on.

Besides, Samdech Techo Prime Minister also spoke highly of the bilateral free trade agreements (FTAs) with China and the Republic of Korea for the economic development of Cambodia.

Samdech Techo Hun Sen attributed all the achievements to the current full peace, political stability, security and order in the whole country.

Source: Agence Kampuchea Presse