PM Hun Sen Optimistic about Cambodia’s Economy with Bilateral Free Trade Area with China
AKP Phnom Penh, November 16, 2019 —
Cambodian Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen has expressed his optimism about higher economic performance of Cambodia with the existence of China-Cambodia Free Trade Agreement.
Addressing at the groundbreaking ceremony for the construction of 34 streets in Sihanoukville, Preah Sihanouk province this morning, Samdech Techo Hun Sen said even the U.S. has been doing business with China, why can Cambodia not trade with China.
The feasibility study on China-Cambodia Free Trade Agreement will begin soon to see the potential of trade between both nations, according to the Chinese Embassy.
In accordance with the consensus reached by top leaders of the two countries, China and Cambodia will launch the first official consultation on bilateral FTA feasibility study in Beijing on Dec. 3, 2019.
This comes as a special arrangement in light of the friendly relations between China and Cambodia.
Ministries of Commerce of the two countries have previously established a contact mechanism at the working level and maintained close communication so far.
The formulation of Cambodia-China free trade area was suggested by Samdech Techo Hun Sen during his official visit to China in January this year. Cambodia and China have set a goal to boost their bilateral trade volume up to US$10 billion by 2023.
By Khan Sophirom