Nik Okenha Keith Meng, President of the Cambodian Chamber of Commerce and Chair of the ASEAN Business Advisory Council for Cambodia, stated that the relationship between the United Arab Emirates (UAE) and his country has seen significant enhancements, particularly with the signing of a comprehensive economic partnership agreement that came into effect last year. This agreement has established a solid institutional framework aimed at increasing non-oil trade between both nations to reach one billion dollars by 2030.
During the “Doing Business with Cambodia” forum, which is part of a trade mission led by the Dubai Chamber of Commerce, he highlighted that the economic partnership agreement has expanded cooperation, providing the UAE with access to the ASEAN market, which consists of 680 million consumers. Simultaneously, it grants Cambodia better access to Gulf Cooperation Council markets, boosting its integration into vital trade hubs.
The President mentioned that the visit of the Dubai Chamber delegation to Phnom Penh, as part of the “New Horizons” initiative, signifies a mutual commitment to enhancing economic ties and fostering joint investments, at a time when Cambodia is entering a new economic phase characterized by openness and the expansion of international partnerships.
He added that the diverse composition of the Dubai Chamber delegation, which includes prominent companies across sectors such as oil and gas, construction materials, consumer goods, food and beverages, and healthcare, underscores the interest of UAE investors in the opportunities presented by the Cambodian market.
According to him, significant opportunities for UAE companies include infrastructure and logistics, with Cambodia accelerating its efforts to become a regional transport hub, alongside a growing tourism sector that is increasingly attracting interest from the UAE and the Middle East. Additionally, renewable energy projects are a priority to tackle industrial energy costs and enhance economic competitiveness.
He pointed out that the digital economy sector represents a critical avenue for cooperation through investments in fintech, the development of payment solutions, and cross-border trade financing, as well as the establishment of vocational training centers to foster human capital and meet the needs of industrial and service sectors.
The President of the Cambodian Chamber of Commerce confirmed that Cambodia’s economy continues to experience strong growth rates, supported by fiscal stability, government-driven initiatives, and a new investment law that offers extensive incentives and tax exemptions for foreign investors. He emphasized that Cambodia serves as a strategic gateway to access ASEAN markets and leverage regional partnership agreements.
He encouraged UAE companies to seize collaboration opportunities and form investment partnerships, asserting that the Cambodian Chamber of Commerce is ready to provide all necessary support and information to confidently and effectively enter the Cambodian market.
He expressed gratitude to the Dubai Chamber for its role in fostering economic partnerships between the two countries, emphasizing that the current moment is ideal for launching new initiatives and partnerships that benefit both parties.