Cambodia Reaffirms Close Cooperation with Trade Partner Countries

Cambodia Reaffirms Close Cooperation with Trade Partner Countries

Cambodia will continue to closely cooperate with Hong Kong Special Administrative Region of China and other trade partner countries both in the region and the world.

The commitment was reiterated yesterday by Mr. Pan Sorasak, Minister of Commerce, as an honorary guest speaker at the Policy Dialogue of the 6th Belt and Road Summit 2021, organised by Hong Kong SAR via videoconference under the theme “Promoting Multilateral Co-operation along the Belt and Road”.

Mr. Pan Sorasak also laid stress on the recovery plan of ASEAN and Cambodia during and post COVID-19 crisis, mainly to ensure the flow of necessary goods, medical materials and equipment, and foods.

In addition, he mentioned about the significance of bilateral free trade agreements (FTAs) with China, the Republic of Korea and other FTAs under the ASEAN framework, especially the Regional Comprehensive Economic Partnership (RCEP). These agreements will help reduce and eliminate tariffs and non-tariff barriers for trade in goods and services, which will improve the investment environment, supply chain resilience and boost bilateral and regional trade, he added.

The minister further pointed out the importance of multilateral trade system under the framework of WTO, particularly the readiness to attend the upcoming 12th WTO Ministerial Conference (MC12).

Cambodia has been gaining benefits from China’s Belt and Road Initiative (BRI) which contribute to infrastructure development leading to the enhancement of trade facilitation and competitiveness of Cambodia for economic growth, people’s wellbeing, and poverty alleviation, underlined Mr. Minister.

AKP