Singapore: Singapore has welcomed Cambodia's interest in acceding to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a major free trade agreement spanning the Pacific region and beyond.
According to Agence Kampuchea Presse, H.E. Dr. Vivian Balakrishnan, Minister of Foreign Affairs of the Republic of Singapore, shared the welcome message today on his social media platform following a meeting with H.E. Sok Siphana, Senior Minister in charge of Multilateral Trade and Economic Affairs, Chairman of the Trade Policy Advisory Board, and Chairman of the CPTPP Study Working Group.
H.E. Dr. Vivian Balakrishnan highlighted Cambodia's potential membership in the CPTPP as a means to deepen its integration into regional value chains, expand market access, and strengthen investor confidence.
H.E. Sok Siphana noted that during the meeting, both ministers exchanged views on the challenges facing the international trade system and the opportunities for small countries like Cambodia and Singapore to work together. They emphasized the importance of a rules-based multilateral trading system and regional economic integration. The discussion also explored ways to deepen Cambodia-Singapore cooperation in trade and economic affairs.
The CPTPP was signed on March 8, 2018, in Santiago, Chile, by Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. The United Kingdom later signed its accession protocol to join the CPTPP in July 2023.