Cambodia approves free trade agreement with China that will result for more fruits entering the market
Fruits
China
Cambodia
Published Sep 19, 2021
Tridge summary
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. The proportion of China's zero-tariff items for trade in goods to Cambodia reaches 97.53%, and the Cambodian party grants zero-tariff items for 90% of China's tariffs. This is the highest level in all free trade agreement negotiations between the two parties so far. Although Cambodia has The vast majority of China's exports go through the China-ASEAN Free Trade Area (ACFTA), which can be exempted from tariffs, but the free trade agreement has extended tariff-free trade to more than 340 products, such as seafood products, garlic, cashew nuts and dried peppers. 2021 From January to May of 2005, Cambodia’s exports to China amounted to US$558 million, an increase of 56% year-on-year compared to 2020. The increase was mainly due to the export of agricultural products. China’s demand for Cambodia’s agricultural products continued to grow. Cambodia’s fruit exports in the first five months of this year A surge of 200%. At present, Cambodia has only two fresh fruits, bananas and mangoes, approved to export to China, but the growth rate cannot be underestimated. Cambodia was approved to export bananas to China in 2018, and the total number of bananas exported to China in 2019 reached 13 10,000 tons. In 2020, Cambodia will become China's third largest banana supplier with a market share of 20%, second only to the Philippines and Vietnam.
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 ...
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes.
To learn more about our cookies, please read our Privacy Policy.