[ad_1]
Senior Cambodian and United Arab Emirates (UAE) government officials on Thursday agreed in principle to arrange the second round of negotiations on the Cambodia-United Arab Emirates Comprehensive Economic Partnership Agreement (CAM-UAE CEPA) in December this year. Released by the Ministry of Commerce (MoC).
Minister of Commerce Pan Sorasak and UAE Minister of Foreign Trade Sani bin Ahmed Al Zeyoudi reached an agreement to designate officials to prepare for the second round of CAM-UAE CEPA after the two countries completed the first round of talks in Abu zabi.
In the first round of CEPA, the two parties’ laws and systems on trade in goods and services, trade barriers, sanitary, phytosanitary, trade services, trade facilitation, rules of origin, economic cooperation, trade remedies, investment, property rights, and mutual benefit are The foundation of “inclusive and sustainable economic development”.
The first round of CAM-UAE CEPA was held from October 24 to 26 and was co-chaired by MoC State Secretary Tekreth Kamrang and UAE Assistant Deputy Minister for Foreign Trade Juma Mohammed Al Kait. Kamrang and Al Kait, who are also heads of their respective negotiating teams for CAM-UAE CEPA, signed a joint minutes, the main outcome of the first round of negotiations.
“The agreement is expected to strengthen the relationship between the two sides by opening up market channels more widely and provide more opportunities for mutually beneficial investment and deepening cooperation in other economic activities,” Kamrang said. Al Kait said both sides were very excited about the agreement. serious.
In the wake of the Covid-19 pandemic, the government launched a plan to revive the economy, targeting a return to 7% annual growth.Cheng Tai, State Secretary of the Ministry of Communications, told khmer times More recently, CEPA is more comprehensive than a Free Trade Agreement (FTA) because it covers areas such as investment, services, trade facilitation, customs cooperation, competition, property rights, and more.
“The Ministry of Commerce is the lead agency for negotiations and first needs the authorization of the head of government,” he said, adding that if CEPA exists, FTA is not required. About 65 officials from various ministries and agencies attended the first meeting.
Cambodia already enjoys special trade interests with 14 other countries under the ASEAN-Korea Free Trade Agreement, the Regional Comprehensive Economic Partnership (RCEP) and the Cambodia-China Free Trade Agreement, while the Cambodia-Korea Free Trade Agreement (CKFTA) is about to be signed in 2022 Effective December 1, 2008.
[ad_2]
Source link