Illustrative image (Photo: Khmer Times) Phnom Penh (VNA) – The Cambodian government is pushing for free-tradeagreement (FTA) talks with potential partners while seeking Russia’s help for aEurasian Economic Union (EAEU) free trade agreement, local media reported.
The Cambodian Ministry of Commerce’s Secretary of State Tek Reth Kamrong said duringher recent meeting with Russian Ambassador to Cambodia Dmitry Tsvetkov thatCambodia will ask for a third meeting between Cambodia’s working group and theEurope Economy Committee (EEC) via videoconference next July, according to theKhmer Times.
The EAEU is home to183 million people and represents a combined GDP of about 5 trillion USD. Thebloc has five member states - Russia, Armenia, Belarus, Kazakhstan andKyrgyzstan.
Cambodia is closer to inking trade deals with developed economies despite theongoing COVID-19 pandemic, the newspaper said.
Cambodian Minister of Commerce Pan Sorasak had a meeting with the Ministry’spolicy and strategy maker for FTAs to examine the working group’s progress onMay 13.
Pan Sorasak said that the Cambodia-China FTA is progressing well, while theCambodia- Korea talks are bearing fruit. The government has empowered the ministryto strengthen Cambodia’s competitiveness and trade and economy diversificationvia promoting FTAs.
Seang Thay, aspokesperson at the Ministry of Commerce, said the negotiations with the EAEUmay take longer than agreements country by country.
Cambodia started tostudy the benefit of FTAs with the EAUE in 2016 and have formed working groupsto exchange information but the process is too slow because the bloc needs tobe united. Cambodia has already exported some goods to the EAEU but Cambodianeeds to negotiate for more access to the bloc, according to Seang Thay.
The Cambodian Ministry of Commerce has established eight different groups to bein charge of the trade negotiations with each potential partner, includingworking groups in charge of trade talks with China, the Republic of Korea, theUK, the EAUE, the US, Japan, Mongolia and India./.
The Cambodian Ministry of Commerce’s Secretary of State Tek Reth Kamrong said duringher recent meeting with Russian Ambassador to Cambodia Dmitry Tsvetkov thatCambodia will ask for a third meeting between Cambodia’s working group and theEurope Economy Committee (EEC) via videoconference next July, according to theKhmer Times.
The EAEU is home to183 million people and represents a combined GDP of about 5 trillion USD. Thebloc has five member states - Russia, Armenia, Belarus, Kazakhstan andKyrgyzstan.
Cambodia is closer to inking trade deals with developed economies despite theongoing COVID-19 pandemic, the newspaper said.
Cambodian Minister of Commerce Pan Sorasak had a meeting with the Ministry’spolicy and strategy maker for FTAs to examine the working group’s progress onMay 13.
Pan Sorasak said that the Cambodia-China FTA is progressing well, while theCambodia- Korea talks are bearing fruit. The government has empowered the ministryto strengthen Cambodia’s competitiveness and trade and economy diversificationvia promoting FTAs.
Seang Thay, aspokesperson at the Ministry of Commerce, said the negotiations with the EAEUmay take longer than agreements country by country.
Cambodia started tostudy the benefit of FTAs with the EAUE in 2016 and have formed working groupsto exchange information but the process is too slow because the bloc needs tobe united. Cambodia has already exported some goods to the EAEU but Cambodianeeds to negotiate for more access to the bloc, according to Seang Thay.
The Cambodian Ministry of Commerce has established eight different groups to bein charge of the trade negotiations with each potential partner, includingworking groups in charge of trade talks with China, the Republic of Korea, theUK, the EAUE, the US, Japan, Mongolia and India./.
VNA
