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Cambodia, China might sign FTA by 2020’s end

The third round of negotiations between Cambodia and China for a free trade agreement has solved all remaining text issues and approved in principal the market access on goods and services, according to the Khmer Times.
Cambodia, China might sign FTA by 2020’s end ảnh 1Illustrative image (Source: www.khmertimeskh.com)

Phnom Penh (VNA) - The third round of negotiationsbetween Cambodia and China for a free trade agreement has solved all remainingtext issues and approved in principal the market access on goods and services, accordingto the Khmer Times.

A statement from the Cambodian ministry of commerce said thenegotiation round focused on market access for goods, service, investment,economic and technical collaboration and regulation, which will push the exportof goods from Cambodia and attract more investment from China.

The 10 technical working groups of both nations will seekapproval from their respective government leaders concerning the agreement textand the request for market opening, among others, in order to close the dealand reach official signing by the end of the year.

The approvals from both leaders are expected to helpCambodia increase its exports by 20 percent per year.

In early May, Chinese Ambassador to Cambodia Wang Wentiansaid the Cambodia – China trade rose to 9.42 billion USD in 2019, not too farfrom their target of 10 billion USD set for 2023. Chinese investment inCambodia last year reached 690 million USD, he added./.
VNA
#Cambodia and China#Cambodia-China FTA#Khmer Times#FTA#Cambodian ministry of commerce#Wang Wentian#Cambodia – China trade#Vietnam News Agency#vietnamplus
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