Cambodian Minister Of Commerce: Cambodia China FTA Will Accelerate The Implementation Of The Belt And Road Initiative

Cambodian commerce minister pansosa pointed out in a joint written interview with Chinese media on the 4th that Cambodia China free trade agreement will accelerate the implementation of the "belt and road" construction project.

Pansosa said that during the outbreak of new crown pneumonia, Cambodia and China sincerely help each other, demonstrating the true friendship of mutual support between the two countries under any difficulties. "Through effective policies and timely response, China has curbed the spread of the virus, while maintaining the stability and smoothness of the industrial chain. These efforts have helped ASEAN, and Cambodia in particular, to mitigate the impact of the virus on our economy. " Panzosa said.

As for the FTA between the two countries, pansoza believes that the agreement is of great significance to the Cambodian economy. It provides market access for a large number of Cambodian products, and also enables Cambodian products and markets to be more diversified. As a world power, China has many advantages. Including raw materials, productivity, labor force, infrastructure, education, economic diversification and other aspects, are the factors of China's vigorous economic development. "Cambodia takes China as an example for our economic development."

It is undeniable that the "one belt and one road" project in Cambodia will stimulate infrastructure construction Pansoza pointed out that Cambodia's cooperation with China under the framework of jointly building the "belt and road" has benefited greatly. From the development of physical infrastructure and connectivity, to trade and tourism, the "belt and road" construction has made significant contributions to Cambodia's economy.

Pansosa cited the Sihanouk special economic zone and Phnom Penh Sihanouk Expressway and other projects related to the "belt and road" construction as good examples. These projects show how to help Cambodia strengthen industrial development and realize export diversification through transportation and logistics improvement, which are crucial to Cambodia's economy.

Pansoza said that the rise of world trade protectionism has increased the uncertainty of global economic and trade exchanges. Under such circumstances, China has made great contributions to Global trade flows through a number of initiatives, including the co construction of the "belt and road initiative". China's opening up will help promote the recovery and development of China itself and the world economy.