Cambodia Hosts Workshop on Cross-border Paperless Trade Facilitation

Cambodia's Ministry of Commerce in collaboration with the United Nations Economic and Social Commission for Asia-Pacific (UNESCAP) hosted here yesterday a workshop on Cross-border Paperless Trade Facilitation.

According to the Ministry of Commerce's news release, this workshop was presided over by H.E. Sok Sopheak, Under Secretary of State for Commerce and attracted the participants from the Ministry of Commerce and relevant agencies as well as foreign guests from Lao PDR and Vietnam.

"Global trade is very crucial to the national economies which leads to an increase in cross-border transactions. These transactions, however, have to go through cumbersome border crossing procedures, which place heavy burden on the exporters and importers. Therefore, in order to reduce this burden, the government has simplified customs and other border procedures for international trade and reduced transaction costs through the application of trade facilitation measures," said H.E. Sok Sopheak in his remarks.

The Framework Agreement on Facilitation Cross-border Paperless Trade in Asia and the Pacific is initiated by UNESCAP. It will result in long-term benefits for the region with more efficiency and transparency.

According to UNESCAP's research, region-wide implementation of cross border paperless trade in Asia and the Pacific could lead to export gains of US$257 billion annually.

Source: Agency Kampuchea Press