Cambodia approves free trade agreement with China that will result for more fruits entering the market

Published 2021년 9월 18일

Tridge summary

The Cambodian National Assembly has approved a bilateral free trade agreement with China, aiming to increase trade in goods by reducing tariffs and non-tariff barriers. The China-Cambodia Free Trade Agreement covers areas such as trade, tourism, investment, transportation, and agriculture, with China granting 97.53% of Cambodia’s goods trade with zero tariff items. The agreement also extends tariff-free trade to over 340 products, including seafood, garlic, cashew nuts, and dried peppers. Negotiations for the agreement were swift, with China's investment being the main source of Cambodia’s development assistance for the past ten years. Agriculture is a key area of economic cooperation between China and ASEAN countries, and the agreement is expected to bring more Cambodian fruits and agricultural products to the Chinese market.

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Original content

According to the ASEAN Briefing News, on September 9, the Cambodian National Assembly approved a bilateral free trade agreement with China, which aims to increase trade in goods by reducing and eliminating tariffs and non-tariff barriers. The China-Cambodia Free Trade Agreement covers a wide range of areas, including trade, tourism, investment, transportation and agriculture. China has granted 97.53% of Cambodia’s goods trade with zero tariff items, and Cambodia has granted China 90% of tariff items with zero tariffs, which is what both parties have so far. The highest level in free trade agreement negotiations. Although the vast majority of Cambodia’s exports to China go through the China-ASEAN Free Trade Area (ACFTA), which can be exempted from tariffs, the free trade agreement has extended tariff-free trade to more than 340 products, such as seafood products, garlic, cashew nuts and dried peppers. Wait. From January to May of 2021, Cambodia’s exports to China amounted to US$558 ...

Source: Guojiguoshu