Talks to reach an economic partnership agreement with Cambodia

1.4 trillion dirhams of UAE non-oil trade in 8 months

Al Zeyoudi and Cambodian Trade Minister during partnership talks.

Photography: Eric Arrasas

Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi, revealed that the value of the UAE's non-oil foreign trade amounted to 1.4 trillion dirhams during the first eight months of this year.

In response to a question by "Emirates Today" about the UAE's non-oil trade in the press conference held by the minister to announce the launch of talks to reach an economic partnership agreement between the UAE and the Kingdom of Cambodia, Al-Zeyoudi said that the country's foreign trade during the third quarter of this year is moving at the pace. The same growth that followed during the first half of the year, which witnessed trade crossing the barrier of one trillion dirhams in the history of the Emirates.

He added that the numbers are promising, and that the value of the UAE's trade will be officially announced during the first nine months of 2022, soon.

In response to another question, Al-Zeyoudi said that the UAE has signed three comprehensive economic partnership agreements with three countries: India, Indonesia and Israel, noting that the agreement signed with India has already entered into force, while the agreement with Indonesia will enter into force. Implementation from next January.

He added that the country aims to sign five other agreements with five countries, including Turkey, with which talks will be completed before the end of 2022, while work is currently underway to complete talks with other countries, including Georgia and Colombia.

Al Zeyoudi pointed out that the impact of the agreements has already begun to appear in the form of an increase in the volume of UAE trade with some countries, led by India for example, with which trade exchange grew by 20% during the first seven months of this year.

For his part, Cambodian Trade Minister Ban Surasak said that the areas of cooperation between the two countries are huge, and include the areas of food industries, renewable energy, technology, financial services, oil, refineries, tourism, hospitality, travel, financial services, real estate and civil aviation.

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