The Ministry of Commerce (MOFCOM) announced that on October 12, Minister of Commerce Zhong Shan and Minister of Commerce of Cambodia Pan Sousa represented the Chinese and Cambodian governments in Beijing and Phnom Penh respectively, and formally signed the Free Trade Agreement between the Government of the People’s Republic of China and the Royal Government of Cambodia (hereinafter referred to as Chinese Cambodia Free Trade Agreement). Cambodian Prime Minister Hun Sen and visiting State Councilor and Foreign Minister Wang Yi witnessed the signing of the agreement in Phnom Penh.
According to the announcement:
The negotiation and signing of the China-Cambodia Free Trade Agreement is an important consensus reached by the leaders of the two countries. The two parties started the negotiation in January 2020. After 7 months and 3 rounds of formal negotiations, they announced the completion of the negotiation on July 20, 2020. The signing of the agreement signifies that the two sides have entered a new era of comprehensive strategic partnership, the joint construction of a China-Cambodia community with a shared future, and the “Belt and Road” cooperation. It is a new milestone in the development of bilateral economic and trade relations and will surely promote bilateral economic and trade relations to a new level. Continuously improve the well-being of the enterprises and people of the two countries.
In the next step, China and Cambodia will perform their respective domestic legal approval procedures to promote the early implementation of the agreement.