UAE business forum set to boost trade ties
Van Socheata
THE Cambodia Chamber of Commerce (CCC) is set to lead 40 private companies to attend the 3rd Cambodia-United Arab Emirates (UAE) Business and Investment Forum in Abu Dhabi, UAE, at the end of February. During the gathering, the chamber will sign several important agreements, including those related to the export of nutmeg oil.
CCC vice-president Tan Monivann, following a February 6 preparatory meeting for the event, said the planning focused on gathering input and facilitating an exchange of views between the private sector and the government, ensuring the smooth organisation of the symposium scheduled for February 27.
“At the forum, I will represent the CCC, accompanying the Minister of Commerce [Cham Nimul]. My presentation will cover agriculture in Cambodia and there will be additional presentations on sectors like manufacturing, banking, finance, tourism and culture,” he said.
Monivann added that presentations would include topics on agriculture and its processing, with specific reference to cashew crops and the production of nutmeg oil.
“During the event, we will conclude agreements on the export of nutmeg oil and cashew products. We are currently preparing a key agreement to be signed with the UAE,” he said.
He emphasised that participation in the conference and the impending signing of the agreements will bolster the implementation of the Cambodia-UAE Comprehensive Economic Partnership Agreement (CAM-UAE CEPA), a vital catalyst for deepening bilateral trade and investment cooperation.
Ho Vandy, an adviser to the Cambodia Association of Travel Agents (CATA), expressed his satisfaction that the tourism sector will participate in the upcoming forum. He sees it as an excellent opportunity to showcase the potential of tourism in Cambodia, particularly to the promising market of the UAE.
“In the past, airlines such as Qatar Airways and the UAE have significantly contributed to bringing tourists and investors to Cambodia. We aim to hold more tourism promotion forums in these countries to attract tourists from the Arab region,” he said.
According to the commerce ministry, trade between the two nations in 2023 amounted to just over $86 million, marking a 17% decrease from 2022. However, the leaders of both nations anticipate that the CAM-UAE CEPA and the organisation of business and investment forums will increase trade volume in the future.