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Phnom Penh – Cambodia
His Excellency Dr. Thani bin Ahmed Al-Zeyoudi, Minister of State for Foreign Trade, concluded an official visit to the Kingdom of Cambodia at the head of a high-level Emirati delegation, in an effort to consolidate trade and investment relations between the two friendly countries, increase trade flows and explore potential investment opportunities in the Cambodian economy, which is among the fastest growing in the region. Southeast Asia and the world.
His Excellency Thani Al Zeyoudi said: “The UAE and Cambodia are centers of global growth, and they have two modern economies that are able to adapt and are ready to turn future challenges into opportunities for growth and prosperity. its industrial capabilities.
His Excellency added, “The visit confirmed the diversity of opportunities available in the two friendly countries, and we look forward to continuing joint efforts to deepen ties that will enable us to maximize these opportunities in the coming months and years.”
The visit, which aimed to build a trade and investment bridge across Cambodia to the fast-growing economies of Southeast Asia, included a series of meetings with ministers and senior officials of the Cambodian government in the capital, Phnom Penh, including a bilateral meeting with His Excellency Prak Sokhon, Deputy Prime Minister and Minister of Foreign Affairs and Cooperation. During which the two ministers praised the expected positive effects of the Comprehensive Economic Partnership Agreement, which was signed during the visit, as it is an ideal platform to achieve the economic aspirations of the two countries. They also discussed ways to stimulate investment flows, as the total mutual investments reached $4 million in 2022.
His Excellency Al-Zeyoudi also held several meetings with His Excellency Ban Surasak, Minister of Commerce, where they agreed to work to ensure the success of the partnership agreement in raising bilateral non-oil trade from 407 million dollars currently to more than one billion dollars annually within 5 years.
In talks with His Excellency Sai Samal, Minister of the Environment, the two ministers discussed the latest developments in the UAE’s preparations to host the COP28 summit next November, and discussed opportunities for capacity building and exchange of knowledge and experiences in the growing renewable energy sector in Cambodia.
His Excellency Dr. Thani Al-Zeyoudi also met with His Excellency Dr. Thong Kon, Minister of Tourism, to chart new paths for investment in fast-growing travel and tourism projects in the two countries.
His Excellency Al-Zeyoudi delivered a speech at the UAE-Cambodian Business Forum, where he highlighted the growing opportunities for the private sector in the two countries, and how the Comprehensive Economic Partnership Agreement will provide a range of benefits to exporters and manufacturers in the country.
During his speech, he called on business owners, businessmen and investors in Cambodia to take advantage of the UAE’s Next Generation Foreign Direct Investment initiative, which enables leading companies in high-growth sectors to easily establish their businesses and expand in the country.
During the forum, His Excellency met with a group of business leaders and CEOs of companies to explore new opportunities for cooperation in the rapidly developing sectors in Cambodia such as clothing, agriculture, e-commerce and financial technology.
Cambodia’s economy is one of the fastest growing economies in Southeast Asia and the world, with an annual growth rate of 7.7% between 1998 and 2019.
The UAE is Cambodia’s largest trading partner in the Middle East, with a share of 70 percent of its total trade with countries in the region. It is noteworthy that the Emirati delegation included His Excellency Rashid Abdul Karim Al Balushi, Undersecretary of the Department of Economic Development in Abu Dhabi, His Excellency Juma Muhammad Al Kait, Assistant Undersecretary for International Trade Affairs at the Ministry of Economy, His Excellency Jamal Saif Al Jarwan, Secretary General of the Emirates Council for Investors Abroad, and Majid Al Falasi, Deputy Head of Mission for Affairs. Consulate at the UAE Embassy in Thailand, Mohamed Al-Menhali, Regional CEO of Abu Dhabi Ports Group and Executive Vice President of Sardal, Samir Chaturvedi, CEO of International Business at Abu Dhabi Ports Group, Fatima Al-Suwaidi, Head of the Masdar Clean Energy Office in Indonesia, and Fahd Hamad Al-Nuaimi, Director of the Asia Office of ADNOC Trading Company International, Mohammed Khamis Khalfan Nasser Al Dhaheri, Senior Agricultural Engineer at Elite Agro, Rashid Al Balushi, Senior Vice President of Operational Assets in Southeast Asia at Mubadala Energy, and Zhou Yiting, Business Development Officer at Aimea Energy.
