Cambodia gets ready for free trade with China

In fewer than 20 days the Cambodia-China Free-Trade Agreement (CC-FTA) comes into force after both countries signed the deal on Oct 12 during a two-day state visit by China’s Foreign Minister Wang Yi in Phnom Penh.

Now questions are being asked about how the Kingdom is preparing to export products to China when the agreement comes into effect in January 2021.

The private sector is ready to take advantage of the Chinese market, the second-largest economy in the world, said Pen Sovicheat, undersecretary of state at the Ministry of Commerce (MoC).

He added the ministry is working on and will soon release a full list of commodities that can be exported to China. This will help the private sector to be aware of what can be exported and what the criteria are that they need to fulfill,” Sovicheat added.

“I cannot say which products have a high potential and which products don’t. It is up to local production. However, we know we can export livestock, processed meat, fresh fruits, vegetables, rice, sesame, corn, bean, cooking ingredients and garments,” he added.

Source: Khmer Times


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