Cambodia and UAE Finalize Negotiations on CEPA
13 March 2023
The third and last round of negotiations for their Comprehensive Economic Partnership Agreement (CEPA) between Cambodia and the United Arab Emirates (UAE) were successfully completed. The CEPA's text, chapters, and annexes, which address a variety of topics including trade in products and services, investment, rules of origin, technical trade barriers, intellectual property, and economic and technological cooperation, have been agreed upon by the two nations.
The CEPA is anticipated to strengthen bilateral connections between the two nations and advance commerce and investment, notably between the Middle East and the Association of Southeast Asian States (ASEAN). This kind of free trade agreement contains provisions for services, investments, dispute resolution, intellectual property rights, government procurement, and other things in addition to the usual coverage of commodities.
The two nations have also decided to organize a formal closure ceremony for their CEPA during the visit to Cambodia next month by Thani bin Ahmed al-Zeyoudi, the minister of state for international trade of the UAE. According to local media sources, the statement was made after the successful conclusion of the final round of negotiations held in Dubai from February 20 to 22.
The CEPA has not yet received an official signing date, but local authorities anticipate that it will happen before the year is over.
- Excel Dyquiangco