Monday, March 27, 2023
Khmer Daily Cambodia News
34 °c
Phnom Penh
  • LATEST
  • CAMBODIA
  • ASIA
    • JAPAN
    • SOUTH KOREA
    • TAIWAN
  • WORLD
    • CHINA
    • RUSSIA
  • BUSINESS CAMBODIA
  • TECHNOLOGY
No Result
View All Result
  • LATEST
  • CAMBODIA
  • ASIA
    • JAPAN
    • SOUTH KOREA
    • TAIWAN
  • WORLD
    • CHINA
    • RUSSIA
  • BUSINESS CAMBODIA
  • TECHNOLOGY
No Result
View All Result
The Khmer Daily
No Result
View All Result
Home ASIA Cambodia

Cambodia pushes hard on free-trade agreements

May 16, 2020
in Business, Cambodia, National
0
Cambodia pushes hard on free-trade agreements
0
SHARES
18
VIEWS
Share on FacebookShare on Twitter

Cambodia’s government is pushing for free-trade agreement (FTA) talks with potential partners while seeking Russian’s help for a Eurasian Economic Union (EAEU) free trade agreement.

The government is looking for support from Russia to push the Cambodia-EAEU FTA in order to expand trade volume and economic cooperation between Cambodia and the bloc.

The call was made during a meeting between Cambodia Ministry of Commerce’s Secretary of State Tek Reth Kamrong and Dmitry Tsvetkov, Russian ambassador to Cambodia.

Reth Kamrong said that Cambodia will also ask for a third meeting between Cambodia’s working group and the Europe Economy Committee (EEC) via videoconference next July.

“Because of the pandemic spread, many countries have applied prudential measures to contain the virus, including travelling and having huge gatherings, so we will ask for a videoconference meeting to push the negotiation process,” she said.

The EAEU is home to 183 million people and represents a combined GDP of about $5 trillion. The bloc has five member states: Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan.

Cambodia is closer to inking trade deals with developed economies despite the ongoing COVID-19 pandemic.

The minister of Commerce on Wednesday also had a meeting with the Ministry’s policy and strategy maker for FTAs to examine the working group’s progress.

Pan Sorasak said that the Cambodia-China FTA is progressing well, while the Cambodia- Korea talks are bearing fruit.

“The trade integration is to expand and open the door to access more markets based on free-trade agreements rather than rely on bilateral trade exemptions that are easy to lose in one day,” he said, adding that the government has empowered the Ministry of Commerce to strengthen the Kingdom’s competitiveness and trade and economy diversification.

The FTA negotiations between Cambodia, South Korea, China and the EAEU – a huge free-trade bloc led by Russia – have suffered no setbacks.

Seang Thay, a spokesperson at the Ministry of Commerce, said that the negotiations with the EAEU may take longer than agreements country by country.

“We started to study the benefit of FTAs with the EAUE in 2016 and now we have formed working groups to exchange information but the process is too slow because we are not working with one country we have been doing with China and Korea. It is a bloc and it needs to be united. That’s why it will take time for the negotiations,” he said.

According to Thay, Cambodia has already exported some goods to the EAEU but Cambodia needs to negotiate for more access to the bloc.

The Ministry of Commerce has established eight different groups to be in charge of the trade negotiations with each potential partner, including working groups in charge of trade talks with China, the Republic of Korea, the UK, the EAUE, the US, Japan, Mongolia and India.

This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources.

Tags: Cambodia
Previous Post

Talks on disputed oil fields between Cambodia and Thailand to resume

Next Post

Thailand extends ban on incoming international flights until end June

Related Posts

2 Cambodians held on rare royal insults charge after Facebook posts

2 Cambodians held on rare royal insults charge after Facebook posts

by AsiaOne
March 26, 2023
0
10

PHNOM PENH - Two Cambodian opposition figures have been charged under the country’s rarely used lese majeste law with insulting...

Nearly 10,000 national and international tourists flock to see Equinox at Angkor Wat Temple

Nearly 10,000 national and international tourists flock to see Equinox at Angkor Wat Temple

by Khmer Times
March 22, 2023
0
11

A total 8,726 national and international tourists this morning flocked to Angkor Wat Temple in Siem Reap provincial city to...

Cambodia’s 1st full flight simulator officially put into use under the Lanmei Aviation Group

Cambodia’s 1st full flight simulator officially put into use under the Lanmei Aviation Group

by Khmer Times
March 22, 2023
0
9

The International Aviation Flight Simulator Centre (IAFSC), which is the first full flight simulator in Cambodia, was officially put into...

Most Popular

Google suspends Chinese app Pinduoduo from Play store after malware is found

Google suspends Chinese app Pinduoduo from Play store after malware is found

March 22, 2023
35
Boris Johnson says he did not lie over Covid-19 lockdown parties

Boris Johnson says he did not lie over Covid-19 lockdown parties

March 24, 2023
22
Russia boosts defences near Japan, accuses US of expanding Asia-Pacific presence

Russia boosts defences near Japan, accuses US of expanding Asia-Pacific presence

March 24, 2023
22
World Athletics bans transgender women

World Athletics bans transgender women

March 24, 2023
21
Rebels in Indonesia’s Papua release New Zealand hostage video

Rebels in Indonesia’s Papua release New Zealand hostage video

March 12, 2023
20
Biden speaks with California governor about Silicon Valley Bank: White House

Biden speaks with California governor about Silicon Valley Bank: White House

March 12, 2023
19

© 2020 By Khmer Daily News

No Result
View All Result
  • Home
  • Latest
  • Cambodia
  • ASIA
  • World
  • Business
  • Tech

© 2019 The Khmer Daily.

error: Content is protected !!