Cambodia eyes more bilateral free trade agreements

The Cambodian Government has been pushing for the establishment of more bilateral free trade agreements (FTAs) with main trade partners in order to expand export markets for its products.

Monday, February 06, 2023 10:57

Cambodia eyes more bilateral free trade agreements ảnh 1

Illustrative image (Photo: xinhua/VNA)

Phnom Penh (VNA) – The Cambodian Government has been pushing forthe establishment of more bilateral free trade agreements (FTAs) with maintrade partners in order to expand export markets for its products.

The country's Deputy Prime Minister and Minister of Economy and Finance AunPornmoniroth said that the United Arab Emirates, India, Japan, EurasianEconomic Union (EAEU), Canada, and American Latin countries are in the plan forbilateral FTA negotiations.

Speaking at the Ministry of Commerce’s recent annual meeting,Aun Pornmoniroth asked the ministry to continue boosting the export of goodsand service to the existing markets and expanding new markets.

The ministry has to conduct extensive consultations withstakeholders on the benefits from the bilateral trade agreements, he added.

Currently, Cambodia has two bilateral FTAs with China and the Republic of Korea,which came into force in January and December 2022, respectively.

The bilateral FTAs, along with the Regional ComprehensiveEconomic Partnership (RCEP) - a mega regional trade pact composed of 15 Pacificcountries which entered into force on January 1, 2022, expand a wider marketfor Cambodian products, said Penn Sovicheat, Under-Secretary of State andSpokesperson at the Ministry of Commerce./.

VNA

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