UAE (FN), Oct. 25 – On the occasion of accompanying Cambodian commerce minister Pan Sorasak at the launch of formal negotiations for a Comprehensive Economic Partnership Agreement (CEPA) between Cambodia and the United Arab Emirates on 24 October 2022, president of the Cambodian Chamber of Commerce Kith Meng led a delegation to attend the United Arab Emirates-Cambodia Business Forum in Abu Dhabi, UAE.
Cambodian commerce minister Pan Sorasak and the Emirati minister of state for foreign trade Thani bin Ahmed al-Zeyoudi presided over and delivered the opening remarks at the United Arab Emirates-Cambodia Business Forum.
Moreover, the Emirati acting undersecretary of Abu Dhabi Department of Economic Development (ADDED), Rashed Abdul Karim Al Balooshi also addressed the forum.
Tycoon Kith Meng expressed his deep gratitude to the two countries’ ministers for presiding over the United Arab Emirates-Cambodia Business Forum. He congratulated the launch of formal negotiations for a Comprehensive Economic Partnership Agreement (CEPA) between Cambodia and the United Arab Emirates.
Kith Meng mentioned business opportunities, investment climate, and the kingdom’s potential sectors and the development in each sector. He also urged UAE investors to visit the kingdom and study the possibility of cooperating on joint projects.
"Under the Cambodian prime minister Hun Sen’s wise leadership, the country has achieved peace and promoted in-depth reforms to improve the business environment and strengthen competitiveness in the international market. Cambodia has a big market in the world under the framework Regional Comprehensive Economic Partnership (RCEP), Cambodia-China Free Trade Agreement and the Cambodia-Korea Free Trade Agreement," Kith Meng underscored.
Despite the effects of COVID19, Cambodia is one of the fastest growing economies in the region. Economic growth in 2022 is projected at around five percent, supported by the revitalization of key sectors.
The Royal Government has launched a plan for economic recovery after pandemic crisis 2021-2023, which will help restore the economic growth to 7 percent annually.
As chairman of ASEAN Business Advisory Council, Kith Meng invited UAE investors to attend the ASEAN Business and Investment Summit, to be held on 9-10 November 2022 in Phnom Penh, Cambodia.
=FRESH NEWS
