Cambodian Commerce Minister Attends 25th AEM Retreat in Thailand

H.E. Pan Sorasak, Minister of Commerce and the ASEAN Economic Minister (AEM) for Cambodia, attended the 25th AEM Retreat, held at Angsana Laguna Phuket Hotel, Phuket, Thailand yesterday.

According to a news release of the Cambodian Ministry of Commerce, the 25th AEM Retreat was chaired by H.E. Ms. Chutima Bunyapraphasara, Acting Minister of Commerce of Thailand with the AEMs of the ten ASEAN Member States in attendance.

The Meeting discussed the conclusion of the Regional Comprehensive Economic Partnership (RCEP) and agreed to solve the remaining issues by sticking to the common stance.

The ASEAN AEMs also discussed the reform of Word Trade Organisation (WTO) whose important roles were highlighted, continued to support multilateral trade system, and agreed to take part in the WTO reform to boost its effectiveness.

The Meeting encouraged the nomination of members of WTO Dispute Settlement Body (DSB) as soon as possible to avoid deadlock in trade dispute resolution.

The Meeting concluded with the signing of ASEAN Trade in Services Agreement (ATISA) and Fourth Protocol to Amend the ASEAN Comprehensive Investment Agreement (ACIA).

The above two agreements will contribute significantly to the expansion of regional trade in services by reducing the trade barriers and development gaps between ASEAN member countries, fostering mutual cooperation, increasing participation of small and medium enterprises (SMEs), and facilitating regional economic integration in the ASEAN region.

Source: Agency Kampuchea Press