Phnom Penh: The Comprehensive Economic Partnership Agreement (CEPA) between Cambodia and the United Arab Emirates (UAE) has accelerated bilateral trade to US$75 million in the first ten months of 2024. Secretary of State at the Ministry of Commerce H.E. Ms. Tekreth Kamrang shared the figure when chairing a workshop in Phnom Penh to review the benefits of the Cambodia-UAE CEPA on Nov. 21.

According to Agence Kampuchea Presse, the volume represents a 7 percent increase compared to the same period in 2023. The bilateral partnership agreement was formalized on Jan. 31 this year. From January to October 2024, Cambodia exported mainly garments, shoes, bags, vehicles, and rubber products worth about US$55 million to the UAE. Meanwhile, the Kingdom imported mostly oil, plastic products, machinery, electrical equipment, processed feed for animals, and furniture valued at approximately US$20 million from the UAE.

The agreement allows Cambodia to export goods to the UAE market with zero tariffs on commodities such as
bags, shoes, textiles, clothing, bicycles, solar panels, electronics, automobiles, latex, rice, cassava, cashew nuts, pepper, coffee, almonds, vegetables, fruits, and processed agricultural and food products. It also enables Cambodia to supply professional, commercial, construction, engineering, and environmental services to the UAE.

H.E. Tekreth Kamrang emphasized the importance of the private sector taking advantage of the Comprehensive Economic Partnership Agreement to contribute to the government’s vision of successfully graduating from the least developed country status by 2029.