The Free Trade Agreement Between Kampuchea And China Is Expected To Be Completed In November 2020.

Kampuchea's prime minister Hong Sen has revealed to the media that the Cambodia free trade agreement is expected to be completed in November 2020 and signed in November of the same year when the Chinese Premier attended the ASEAN EU summit to implement the agreement as soon as possible and to promote trade between the two countries.

During the Cambodian bilateral talks held in Beijing, China in January 2019, Cambodian Prime Minister Hong Sen and Chinese Premier Li Keqiang agreed to conduct a feasibility study on the bilateral free trade agreement (FTA), which aims to increase bilateral trade to $10 billion by 2023. The first round of negotiations was completed in Beijing in from January 20 to 21, 2020.

The Kampuchea Garment Manufacturers Association said that Kampuchea should start negotiations on free trade agreements with other countries. It is expected that Kampuchea will graduate from the LDC of the United Nations in the next 5 to 6 years. After that, Cambodia will lose many trade concessions offered by many developed countries. At present, the free trade agreement that Cambodian countries participate in is limited to the association of East Asian nations. There is indeed a shortage. It is advisable to use FTA to open up more markets for Cambodian products.

Hong Sen said Cambodia needs more bilateral free-trade agreements, and China is indeed the largest potential partner. Before the agreement is finalized, Cambodia must strengthen its capacity and output, and hope that China will increase investment in Cambodia to help speed up economic growth.