Negotiations on the establishment of a free trade agreement (FTA) between the Kingdom of Cambodia and the People’s Republic of China were officially concluded on July 20, 2020, after half a year of negotiations.
The official announcement on the end of the FTA negotiations was made via Videoconference by H.E. Pan Sorasak, Cambodian Minister of Commerce, and his Chinese counterpart H.E. Zhong Shan.
On the occasion, the two commerce ministers spoke highly of the Cambodia-China FTA, which reflects the traditional and long-lasting relationship as well as the comprehensive partnership of cooperation between the two countries.
The successful conclusion of a free trade agreement in a short period of time shows the strong commitment of both countries’ leaders to strengthen closer and broader relations. This FTA will bring about many economic and social benefits to the people of the two countries through the liberalisation of trade in goods and services, the promotion of comprehensive investment, as well as cooperation in a number of areas.
For the next step, both sides will implement their respective internal procedures leading to the signing of the bilateral FTA this year.
Source: Agency Kampuchea Press