UAE-Cambodia reach trade agreement to improve commerce links
The United Arab Emirates (UAE) and Cambodia have reached agreement on the conditions of a bilateral trade agreement in order to improve trade and commerce links, particularly in Asia According to a statement released by the UAE state news agency WAM, the two nations wrapped up negotiations for the trade pact, known as the Comprehensive Economic Partnership pact (CEPA), within six months of its introduction. Notably, when the CEPA is put into effect, numerous tariffs on Cambodian agricultural items, leather products, and clothes and footwear will be removed, creating a new market for the UAE's manufacturing and industrial sectors. According to Thani Al Zeyoudi, UAE's minister for foreign trade, "Cambodia's food production and agricultural sectors, which are crucial to their economy, will also help us achieve our food security ambitions." Moreover, a crucial component of the UAE's economic development strategy, which intends to double the size of the economy...