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Two-way trade between Cambodia and the United Arab Emirates (UAE) reached nearly $280 million in the first eight months of this year, an increase of more than 40 percent compared to the same period in 2021.
The figures were shared by Cambodian Minister of Commerce Pan Sorasak on October 24 at the Cambodia-UAE Business Forum jointly organized by the two chambers of commerce in Abu Dhabi, UAE.
Panthorasak took the opportunity to encourage all Emirati investors to actively participate in trade and investment promotion activities, and called on other Emirati businessmen and investors who are not yet doing business in Cambodia to study the country’s trade and investment potential for themselves.
Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, said that the UAE is Cambodia’s largest trading partner among Arab countries, accounting for 77% of Cambodia’s trade with the Persian Gulf region.
He added that Cambodia’s investment in the UAE at the end of 2020 was worth nearly US$1 million, mainly in the real estate sector, while the UAE’s investment in the real estate sector also reached about US$2.7 million in the first half of 2022.
Dr. Thani bin Ahmed Al Zeyoudi noted that, in addition to clothing, footwear and travel goods, agriculture and food security remain an important part of the focus to strengthen Cambodia-UAE partnership.
Cambodian Chamber of Commerce President Oknha Kith Meng in his capacity as ASEAN Business Council Chairman urged all businessmen to attend the ASEAN Business and Investment Summit to be held in Phnom Penh on November 9-10, 2022. AKP-L Vy
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