Cambojanews 12 Oct 2020
"According to the Ministry of Commerce, Cambodia imported $7.55 billion worth of goods from China in 2019, up slightly from $6.12 billion the year before. China, on the other hand, imported $1 billion worth of goods from Cambodia last year, up from $855 million the previous year. "
Chinese and Cambodian officials on October 12 signed the Cambodia-China Free Trade Agreement (CCFTA), allowing Cambodia greater access to the Chinese market and signifying the country’s commitment to strengthening its strategic ties to its powerful regional ally.
Speaking at the signing ceremony attended by Prime Minister Hun Sen, Chinese Foreign Affairs Minister Wang Yi, and other high-level officials, Cambodian Commerce Minister Pan Sorasak said the bilateral free-trade agreement was a milestone for the two nations.
“The signing of this agreement signifies an even stronger tie between the two countries and marks another key historical milestone for Cambodia-China relations,” he said at the event at the Peace Palace in Phnom Penh.
“Undoubtedly, the agreement would provide a more robust economic partnership through a higher degree of market access, liberalization for goods, services, and investments,” Sorasak added. “The timely implementation of this agreement would provide economic and social benefits to people of the two countries in a mutually advantageous manner.”
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