Cambodia, EU Trade and Investment Talk Prepared

Cambodia and European Union (EU) have convened a preparatory discussion for the meeting of subgroups on trade and investment and the 11th Cambodia-EU Joint Committee Meeting to be held on Nov. 26-27.

The preparation took place recently through a video conference and was co-chaired by Cambodian Secretary of State at the Ministry of Commerce H.E. Sok Sopheak and Mr. Petros Sourmelis, Head of Trade and Investment Department of the EU Delegation based in Thailand.

H.E. Sok Sopheak updated the EU side on increasing trade volume between Cambodia and EU, and the impacts of COVID-19 on Cambodia’s trade and investment.

The secretary of state continued that COVID-19 crisis has pushed down the country’s exports to the EU market as the markets are shuttled and consumption reduced, however, the Royal Government of Cambodia is working hard to introduce measures to restore the country’s economy.

The meeting also looked into Cambodia’s amendment to laws on trade and investment, the negotiations under bilateral and multilateral free trade frameworks, the agenda progress in the World Trade Organisation (WTO), impacts of Vietnam-EU free trade on Cambodia, and the process of free trade negotiations with EU and ASEAN countries including the Philippines, Indonesia, Malaysia and Thailand.