MoC and Australia Release Publications and Announce to Develop a Free Trade Agreement Portal to Promote Trade

The Ministry of Commerce and the Australian Embassy in Phnom Penh launched here early this week two landmark publications and announced the development of an online trade and investment portal to help businesses take full advantage of Cambodia’s free trade agreements.

The event was presided over by H.E. Pan Sorasak, Minister of Commerce and H.E. Pablo Kang, Australian Ambassador to Cambodia.

According to the embassy, the two publications – Cambodian Crops with Prospects for the EU and RCEP Markets and Unlocking Global Markets by Leveraging Free Trade Agreements – were produced by Australia’s now concluded agricultural development programme, but the new online platform is being developed by Australia’s new flagship economic development programme, the Cambodia Australia Partnership for Resilient Economic Development (CAP RED).

Cambodia is now a member of the world’s largest trading bloc and Australia is very pleased to support Cambodia to leverage these trade agreements to diversify crops and markets. These guides, both online and hardcopy, will make it easier for businesses to access new export markets.

CAP RED is Australia’s AUD 87 million, flagship economic development programme in Cambodia. CAP RED will support Cambodia to leverage free trade agreements, prepare for Least Developed Country graduation, and promote inclusive trade and investment policies and practices.

The Programme also supports small-to-medium enterprise growth (especially women-led enterprises), improved energy efficiency and access to renewable energy in remote, off-grid villages.

Source: Agency Kampuchea Press