Background
The Ministry of Commerce reported that Cambodia and the United Arab Emirates (UAE) have formally opened the third round of negotiations on the Cambodia–UAE Comprehensive Economic Partnership Agreement (Cambodia–UAE CEPA). The opening session took place in Dubai, UAE, on the morning of 20 February 2023, following earlier negotiation rounds held in Abu Dhabi and Phnom Penh.
The Cambodian delegation is led by Tekreth Kamrang, Secretary of State of the Ministry of Commerce and Chief Negotiator for Cambodia, while the UAE delegation is led by Juma Al Kait, Assistant Minister in charge of international trade and Chief Negotiator for the UAE. Approximately 100 negotiators and working group members from both sides are participating in this round.
Scope of Application
The negotiations concern the Cambodia–UAE Comprehensive Economic Partnership Agreement, which is intended to govern economic and trade cooperation between the Kingdom of Cambodia and the United Arab Emirates. The agreement is envisaged as a broad framework to facilitate bilateral trade and economic relations between the two countries.
Key Provisions or Decisions
The announcement states that:
- The third round of Cambodia–UAE CEPA negotiations will be conducted over three days, from 20 to 22 February 2023, in Dubai.
- Both parties expressed satisfaction that the negotiations have progressed to the third round, building on outcomes achieved in the first round in Abu Dhabi and the second round in Phnom Penh.
- Both sides support the shared intention to conclude the Cambodia–UAE CEPA negotiations within this third round and to move toward a formal closing announcement in the near future.
- The two sides acknowledged that the CEPA is expected to serve as a driving force for broader cooperation between the two countries, contributing to national economic growth and sustainable and environmentally conscious development.
- The UAE side noted positive signs in bilateral trade, with trade volume reaching around USD 400 million in 2022, an increase of about 30% compared with 2021, and expressed the expectation that the CEPA will further expand bilateral trade.
- The UAE Assistant Minister welcomed the Cambodian delegation and expressed appreciation for Cambodia’s support and close cooperation during the negotiation process.
Implications for Investors, Businesses, or Compliance
While the Cambodia–UAE CEPA is still under negotiation and not yet in force, the decision by both parties to aim to conclude the negotiations in the third round indicates advanced progress toward a formal agreement. Businesses and investors engaged in, or considering, Cambodia–UAE trade and investment should monitor subsequent official announcements for the final terms of the CEPA, which are expected to influence market access conditions and the broader economic relationship between the two countries.
Official Source
Ministry of Commerce (Cambodia), official Facebook page post dated 20 February 2023.
