Chinese Commerce Minister Zhong Shan and his Cambodian counterpart Pan Sorasak had announced the completion of China-Cambodia Free Trade Agreement talks. The FTA comes half a year after both party launched the negotiations.
The signing marks fastest FTA talks ever, reflecting the sound economic and trade cooperation base between both countries as well as their strong willingness to promote bilateral trade and investment.
Both side needs to fulfil their own domestic procedures, striving to sign the agreement within year 2020, according to a joint statement released by the two countries on the same day.
Chinese Ministry of Commerce released that the agreement is an implementation of both countries' leaders' instructions and a specific measure on developing a comprehensive strategic partnership and promoting the joint establishment of a community forged by a shared future.
Xu Liping, director of the Center for Southeast Asian Studies of the Chinese Academy of Social Sciences released that the FTA will inject new vigor into China-Cambodia economic ties to cushion against the fallout from the COVID-19 pandemic and bring bilateral relations to a new height.