Cambodia and Eurasian Economic Union explore prospects for free trade agreement

Cambodia and Eurasian Economic Union explore prospects for free trade agreement

Cambodia and the Eurasian Economic Union (EAEU) have discussed the potential for a free trade agreement (FTA) to strengthen economic ties and expand market access.

The discussion occurred during a meeting between Prime Minister Hun Manet and Bakytzhan Sagintayev, Chairman of the Board of the Eurasian Economic Commission (EEC), on the sidelines of the ASEAN-Russia Commemorative Summit in Kazan, Russia, held from June 17–18.

Sagintayev welcomed the progress in relations between the EAEU and Cambodia over the past decade.

Mr Hun Manet said he valued the growing cooperation between the two sides, particularly in trade. He noted that Cambodia’s efforts to diversify its trade partners provide a favourable opportunity to consider an FTA.

The Prime Minister said engagement with Cambodia serves as a gateway to broader international markets through Cambodia’s existing bilateral FTAs, the Regional Comprehensive Economic Partnership (RCEP) and the integrated ASEAN market.

He added that an FTA could allow the EAEU to expand its reach across the region.

The two sides discussed methods to increase trade volume by identifying sectors with strong potential for mutual benefit. Both leaders agreed that Cambodia and the EAEU possess untapped trade potential and that a future FTA could serve as a driver for enhanced economic relations. 

khmertimeskh