Logo of Phnom Penh Post newspaper Phnom Penh Post - Cambodia, China discuss Covid-19, free trade deal

Cambodia, China discuss Covid-19, free trade deal

Content image - Phnom Penh Post
Cambodian garment factories have been affected by the virus outbreak in China, with many facing fabric shortages. POST STAFF

Cambodia, China discuss Covid-19, free trade deal

The Chinese Ministry of Commerce on Friday met with the Council for the Development of Cambodia (CDC) to discuss the impact of the new coronavirus on the Kingdom’s economy and promote trade and investment between the nations.

During the meeting, Yang Weiqun, deputy director-general of the Asian Affairs Department of the Chinese Ministry of Commerce, pointed out that Cambodian factories have been affected by the virus outbreak in China.

“Cambodia is facing a shortage of raw materials as factories in China close due to Covid-19. The country is also affected by the partial suspension of the Everything But Arms (EBA) deal with the European Union. The Chinese government is now looking for ways of helping Cambodia,” said Yang, adding that China is encouraging businesses to consider investments in the Kingdom.

Cambodian Investment Committee secretary-general Chea Vuthy asked the Chinese government to give the Kingdom preference once the supply of raw materials is restored.

“Cambodia would also like to ask China to speed up negotiations on a free trade agreement (FTA) between the two countries,” Vuthy said.

The first round of negotiations for a Cambodia-China FTA has recently concluded. According to a press release from the Ministry of Economy and Finance, the countries aim to conclude the agreement by mid-2020 and sign it before the end of the year.

According to the statement, the FTA will give Cambodia more opportunities to export to the Chinese market, both in terms of volume and types of goods, through tax incentives. The agreement will facilitate trade by cutting red tape.

Ministry of Commerce spokesman Seang Thai could not be reached for comment on Sunday, but last month told The Post that Cambodia will host a meeting between the two countries in April to continue negotiations.

“Cambodia will benefit a lot from this FTA. This agreement will boost exports to the Chinese market,” he told The Post.

MOST VIEWED

  • Prince Norodom Ranariddh passes away at 77

    Prince Norodom Ranariddh, the second son of the late King Father Norodom Sihanouk and former First Prime Minister of Cambodia, has passed away in France at the age of 77. “Samdech Krom Preah Norodom Ranariddh has passed away this morning in France just after 9am Paris-time,”

  • Cambodia purchases 4 million Molnupiravir tablets

    Cambodia has arranged for the purchase of four million US-made Molnupiravir pills – enough to treat 100,000 Covid-19 patients – even though the current rate of daily infections in Cambodia remains low. The medicine will be distributed to state hospitals, pharmacies and private clinics, according to the Samdech

  • Rise in planned flights lifts travel hopes

    Six airlines have applied to resume flights in December, while two others have put in for additional flights and routes, according to State Secretariat of Civil Aviation (SSCA) head Mao Havannall on November 29. These account for 43 new weekly domestic and international flights in December, up 16

  • Is Cambodia’s travel sector in for another cheerless holiday season?

    The travel and tourism sector was heaving back to life as borders started to reopen, promising a festive vibe for the holidays and New Year. But Omicron and other Covid-related issues are threatening to close the year on a bleak note ‘Seems [like] Covid-19 won’

  • Cambodia, Thailand to discuss border reopening

    Cambodian authorities from provinces along the Cambodia-Thailand border will meet with Thai counterparts to discuss reopening border checkpoints to facilitate travel, transfer of products and cross-border trade between the two countries. Banteay Meanchey provincial deputy governor Ly Sary said on November 22 that the provincial administration

  • Cambodia planning new border checkpoint at Thma Da

    Cambodia is looking into the possibility of opening a new Thma Da Border Checkpoint with Thailand to boost trade and tourism. The Ministry of Public Works and Transport said on December 4 that Minister of Public Works and Transport Sun Chanthol led a technical working group