Kingdom calls for rules-based multilateral trading system in China meet
Kingdom calls for rules-based multilateral trading system in China meet
Nimul underlines the need to support the accession of aspiring economies like Cambodia to be part of the CPTPP.
Cambodia Friday underscored the importance of strengthening the rules-based multilateral trading system during extensive discussions with members of the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), in Suzhou city, Jiangsu province, People’s Republic of China.
Delivering a speech attended by RCEP and CPTPP member countries, Minister of Commerce Cham Nimul also underlined the need to support the accession of aspiring economies to the trade blocs, including Cambodia’s ambition to be part of the CPTPP.
Nimul attended the meeting at the invitation of Wang Wentao, Minister of Commerce of the People’s Republic of China.
Currently, there are 16 RCEP members, such as the 11 ASEAN members including the newly added member Timor Leste (East Timor) and its five regional trading partners, such as Australia, China, Japan, South Korea and New Zealand.
Recognised as the world’s largest free trade agreement, RCEP was signed in November 2020 with the aim of eliminating tariffs of up to 90 percent on goods traded between its members, simplifying customs procedures, establishing unified rules of origin, and expanding cooperation in digital trade, e-commerce, and intellectual property.
The mega trade bloc represents roughly 30 percent of the world’s population and about 30 percent of global GDP.
Later in the day, in another side event, Nimul held a bilateral meeting with Li Chenggang, China International Trade Representative, and Vice Minister of Commerce to discuss further promoting and strengthening Cambodia-China bilateral trade and other commercial activities.
During the meeting, both sides exchanged views and discussed the Cambodia-China bilateral trade relation, as well as the developments in the regional and global trade landscape. Both sides discussed further strengthening cooperation to promote bilateral trade and expand economic opportunities between the two countries.
It should be noted that Cambodia is not a member of CPTPP, with the bloc consisting of 12 members, such as Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam, and the United Kingdom, representing 15 percent of global GDP.
Despite not being a member, Cambodia is preparing to negotiate CPTPP membership, with notable efforts being made by the Royal Government of Cambodia to advance the negotiation, provided that only if the current members consent to establish a working group.
Since CPTPP aims to eliminate 99 percent of tariffs on goods and integrates digital trade, services, and labour standards, discussing with the trade bloc allows Cambodia to gain more market opportunities and reach wider market access to the five non-RCEP members, such as Canada, Chile, Mexico, Peru and the UK, benefiting Cambodia’s international trade momentum.
- 07:46 25/05/2026
