Two trade deals vital to boosting growth
News Type: Marketing News
Sihanoukville’s deep-sea port, the gateway to Cambodia’s exports, will capitalise on the free trade agreements. Sihanoukville Autonomous Port
Xinhua – The recently-signed Cambodia-China Free Trade Agreement (FTA) and the Regional Comprehensive Economic Partnership (RCEP) free trade pact will be key drivers to reboot Cambodia’s economic growth in the post-COVID-19 era, the nation’s officials and experts said.
Cambodia signed the bilateral FTA with China on Oct 12 and the RCEP trade pact with 14 other Asia-Pacific countries on Nov 15.
Cambodian government chief spokesman Phay Siphan said the two pacts will greatly contribute to boosting Cambodia’s economy and improving people’s livelihoods when they enter into force.
“The two agreements show our unity towards a community of common destiny,” he told Xinhua in an exclusive interview. “They will provide us greater market access with no tariff barriers.”
Siphan said the two pacts truly demonstrated China’s unwavering commitment to enhancing free trade and multilateralism despite the ongoing global COVID-19 pandemic.
source from: KHMER TIMES