Post by : Badri Ariffin

The Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Cambodia is set to revolutionize trade dynamics in the region, targeting over $1 billion in non-oil trade by the year 2030. This agreement, which came into effect earlier this year, facilitates enhanced business collaboration between these two nations.

A recent delegation from the Dubai Chamber visited Phnom Penh as part of the “New Horizons” initiative, showcasing the UAE's growing interest in Cambodia's vibrant market. Representatives from various industries such as construction, oil and gas, healthcare, and food and beverages emphasized the extensive investment opportunities available.

Strategically situated, Cambodia provides UAE businesses with access to a vast ASEAN market comprising over 680 million consumers. Key sectors that are attracting investment include infrastructure and logistics aimed at establishing Cambodia as a regional transportation hub, alongside initiatives in tourism and renewable energy targeted at reducing industrial power costs. The digital economy—especially FinTech solutions facilitating cross-border trade—is emerging as another focal point for cooperation.

With a stable economy, favorable investor policies, and a new investment law that simplifies business processes and offers tax advantages, Cambodia continues to enhance its appeal to UAE investors. This allows businesses to pursue opportunities across a range of areas from manufacturing to services, contributing to Cambodia's broader economic progress.

Through this CEPA, both nations are setting the stage for a strong partnership in trade, investment, and innovation, heralding a prosperous future for their markets.

#Global News #Business News #Economy