UAE-Cambodia CEPA Set to Boost Trade to $1B by 2030

Post by : Bianca Suleiman

The newly established UAE-Cambodia economic partnership is on a trajectory to reshape trade relations in the region, with a goal of exceeding $1 billion in non-oil trade by the year 2030. The Comprehensive Economic Partnership Agreement (CEPA), which was initiated earlier this year, lays the groundwork for enriching business interactions between the two nations.

A recent delegation from the Dubai Chamber visited Phnom Penh under the “New Horizons” initiative, highlighting a burgeoning interest from the UAE in Cambodia’s expanding commercial landscape. The delegation included representatives from various sectors such as oil and gas, construction, food and beverages, and healthcare, emphasizing the diverse investment opportunities that lie ahead.

Cambodia’s advantageous location grants UAE businesses access to the extensive ASEAN market, which comprises over 680 million consumers. Key sectors drawing interest include infrastructure and logistics, as Cambodia aspires to position itself as a regional transport hub, alongside tourism and renewable energy initiatives aimed at reducing industrial energy costs. The digital economy, particularly in FinTech, is also becoming a significant focal point for bilateral cooperation.

With its economic stability, investor-friendly environments, and a newly introduced investment law offering streamlined processes and tax incentives, Cambodia is increasingly appealing. UAE businesses can seize opportunities across various domains, from manufacturing to service sectors, while contributing to Cambodia’s broader economic landscape.

As CEPA serves as a conduit for mutual growth, both the UAE and Cambodia are solidifying their positions as pivotal partners in trade, investment, and innovation, pointing towards a bright future for both economies.