C ommerce Minister Var Huoth said he hopes a trade law will be
passed by the end of June, which will also lead to the creation of a chamber of
commerce and a national center for the promotion of trade.
that the trade law together with another bill governing investment, which is
expected to be rushed through the National Assembly, are designed to make
conditions as attractive as possible to foreign investors.
exclusive interview with the Post , Huoth said: "Investors have to have
confidence in the situation that is why the Ministry of Commerce is now drawing
up a code of commerce, or we can say a law of trade."
He said that two
books of five have already been drafted and passed to the premiers' offices for
scrutiny. French advisors had helped in drawing up the legislation, Huoth
He said: "It will contain articles concerning the registration of
trade and companies, bankruptcy and the setting up of a trade court to settle
disputes. plus setting up of the chamber of commerce. We hope to have it passed
by the end of the first half of the year.
"The law of trade and the law
of investment will provide as much incentive as possible to foreign investors to
Once the legislation is passed, he said, the way will be
clear to set up the chamber of commerce, the national center for trade promotion
and a farm producers' association.
When asked about biggest problems the
country is facing on the commerce front Huoth said: "Improving the supply of
power is a priority, which the government is addressing "
As he spoke the
lights went out and the minister conceded from the gloom that the timing of the
blackout was "unfortunate."
Huoth said he preferred to talk in terms of
objectives rather than problems.
Another of the key objectives, he said,
was to bring down the imbalance in trade. He said there is currently a one to
eight ratio in terms of value of exports to value of imports.