The UAE and Cambodia have signed a comprehensive economic partnership agreement aimed at doubling non-oil bilateral trade. This is the fifth such agreement the Gulf state has initiated as part of a trade strategy launched in 2021. UAE Minister of Foreign Trade Thani Al Zeyoudi stated on Twitter that the partnership with Cambodia helps "create a corridor for trade opportunities between the Gulf and Southeast Asia by reducing or eliminating tariffs, removing barriers to trade flow, and creating new pathways for strategic investments, enhancing the UAE's status as a global trade hub."
The partnership builds on a solid foundation of flourishing trade relations, with non-oil bilateral trade growing by 33% to $407 million in 2022. Al Zeyoudi expressed his eagerness to work with Cambodian Minister of Commerce Pan Sorasak to stimulate trade flow towards reaching $1 billion annually within five years.
The UAE Ministry of Economy announced that "the agreement will increase exports of grains, fruits, meat, clothing, leather products, and other goods from Cambodia, as well as exports of machinery, oils, and lubricants from the UAE." The two countries will also explore investment opportunities in logistics, infrastructure, travel, and renewable energy.
