Cambodia Gains Positive Progress in Market Access with RECP Free Trade

Cambodia has gained positive progress in market access with Regional Comprehensive Economic Partnership (RCEP) Free Trade.

H.E. Pan Sorasak, Minister of Commerce, made the affirmation, while leading his delegation to attend the 8th RECP Intersessional Ministerial Meeting, held in Beijing on August 2-3, China.

As said a news release of Ministry of Commerce, the meeting was presided over by H.E. Hu Chunhua, Vice Prime Minister of China, and chaired by H.E. Jurin Laksanawisit, Deputy Prime Minister and Minister of Commerce of Thailand.

Attended by 16 RCEP participating countries, the meeting aimed to examine progress of negotiation and find solutions for remaining issues in order to finalise RECP Agreement by the end this year.

The 8th RECP Intersessional Ministerial Meeting was satisfied with progress in market access and text negotiation at the 7th RECP Ministerial Meeting in cultural Siem Reap province, Cambodia, in March 2019.

The meeting achieved a completion of seven of the 20 chapters and three of eight indexes.

It also agreed to finalise RECP agreement within this year to contribute to political stability and global economy, and send out the signal to the word that RECP member countries support free trade system and against protectionism and the spread of trade war.

As sideline of the 8th RECP Intersessional Ministerial Meeting, ASEAN Economic Ministers also held a bilateral meeting with dialogue partners of ASEAN Free Trade such as Australia, China, Japan, Republic of Korea, New Zealand and India to discuss sensitive issues and find solutions to complete the important RECP agreement for all countries.

Source: Agency Kampuchea Press