FTA, RCEP key driver for Cambodia’s post-COVID-19 economic growth
The recently-signed Cambodia-China Free Trade Agreement (FTA) and the Regional Comprehensive Economic Partnership (RCEP) free trade pact are expected to be a key driver to reboot Cambodia's economic growth in the post-COVID-19 era.
Delegates attended the 2020 RCEP meeting in November (Photo: VNA)
Phnom Penh (VNA) –ಞ Therecently-signed Cambodia-China Free Trade Agreement (FTA) and the RegionalComprehensive Economic Partnership (RCEP) free trade pact are expected to be akey driver to reboot Cambodia's economic growth in the post-COVID-19 era.
Cambodia signed the bilateral FTA withChina on October 12 and the RCEP trade pact with 14 other Asia-Pacificcountries on November 15. Spokesman for the Cambodian government PhaySiphan said the two pacts will greatly contribute to boosting Cambodia'seconomy and improving the people's livelihoods when they enter into force. The two agreements show the countries’unity towards a community of common destiny, he said in a recent interview withChina’s Xinhua news agency, adding that they will provide Cambodia greatermarket access with no tariff barriers. Cambodia’s Ministry of Commerce secretaryof state and spokesman Seang Thay said through the two trade deals, the ties ineconomics, trade and investment between Cambodia and China as well as otherRCEP countries would be further broadened. Affected by the COVID-19 pandemic,Cambodia's economy in 2020 is projected to register its slowest growth since1994. Deputy Prime Minister and Minister ofEconomy and Finance Aun Pornmoniroth said the growth would shrink by 1.9percent this year, making the gross domestic product (GDP) value worth 27.6billion USD. The ADB forecasts better growth forCambodia in 2021, saying that the country’s growth would expand by 5.9 percent./.
Cambodian Prime Minister Hun Sen said that the Ministers of Health and Finance have already signed a deal to obtain 20 percent of a vaccine through COVAX.
The European Union, Germany and France has announced a credit agreement worth 95.8 million euros (116 million USD) to Cambodia to support the Rural Infrastructure Development for Cambodia (RID4CAM) project, according to a joint press statement released on December 23.
The Cambodian government on December 24 announced a seventh round of stimulus measures for the aviation and tourism sectors, aiming to boost their business activities and ease their financial burden in the face of severe challenges stemming from the spread of COVID-19.
Cambodia’s Ministry of Health has lifted its restrictions on restaurants and shops which were ordered to close due to the “November 28 community incident”, Minister of Health Mam Bunheng has said.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
The new FIFA Hub in Jakarta will not only support football development in Indonesia but also serve as a coordination centre for 21 football associations across Southeast and East Asia.
Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
PM Anwar Ibrahim affirmed the determination of Malaysia, as ASEAN Chair for 2025, to utilise all viable regional mechanisms of the bloc and work with partners to de-escalate violence and restore a peace process led by Myanmar.
Delegates attended the 2020 RCEP meeting in November (Photo: VNA) 
