PHNOM PENH (Bernama): The Dubai Chamber of Commerce is exploring strategic economic opportunities in the Asean region by conducting its second trade mission in Cambodia today, following a similar mission in Malaysia.
It is expanding its trade agenda by engaging the Cambodia Chamber of Commerce to enhance new partnerships across diverse sectors with the local business community.
"For Dubai, we are looking into different markets, and we work under the D33 economic agenda that looks at different collaborations in other markets and cities.
"Dubai Chambers is well-positioned to be part of the economic agenda. It is ambitious in unlocking different opportunities and corridors, and this is why we were in Malaysia and now in Cambodia to be part of the New Horizons Trade Mission,” Dubai Chambers Executive Vice President of International Relations Salem AlShamsi told a media conference in the capital.
The chamber is leading a trade mission to Phnom Penh under the theme of "New Horizons: Doing Business With Cambodia”.
"We are committed to enabling Dubai-based companies to build strong partnerships in priority markets and opening new paths for international expansion.
"These activities support the sustainable growth of Dubai's business community and reinforce the emirate's position as a leading global business hub,” AlShamsi said in his welcoming remarks at the event.
Dubai Chambers has identified a range of high-potential sectors for trade from Dubai and Cambodia, including aluminium, iron and steel, beverages, mattresses and bedding, furniture and aircraft and spacecraft parts.
Promising sectors for investment in Cambodia by Dubai-based companies include travel and tourism, hotel and restaurants, transportation and warehousing, textiles, consumer products, and appliances.
Cambodia's non-oil trade with Dubai reached about RM1.6 billion (US$395 million) in 2024.
The Cambodia Chamber of Commerce President and Chair of ASEAN Business Advisory Council-Cambodia, Kith Meng, said the United Arab Emirates (UAE) and Cambodia could harness their expertise in various sectors to bolster bilateral trade ties.
"This mission is very clear to demonstrate your commitment to Southeast Asia and deepening economic ties between Phnom Penh and Dubai.
"The most compelling opportunity for the UAE lies in the area of strategic alliance in infrastructure and logistics. Cambodia is aggressively trying to transform into a regional transportation hub, and the UAE is seeking partnership, particularly in maritime and air networks,” said Kith Meng.
The Dubai Chambers of Commerce promotional trade mission to Malaysia and Cambodia runs from November 24 to 28.
The Dubai Economic Agenda D33 was launched in 2023 to transform the city into a premier global financial centre, an international tourism and business destination in the world.
Cambodia and the UAE signed the Comprehensive Economic Partnership Agreement on June 8, 2023 and came into force on January 31, 2024. - Bernama
