Brussels (FN), Dec. 15 – The European Union (EU) vowed to further assist Cambodia even after the kingdom graduated from least developed countries (LDCs) status.
European commissioner for trade Valdis Dombrovskis told Cambodian commerce minister Pan Sorasak during a bilateral meeting, held on 13 December 2022 in Brussels, Belgium.
Pan Sorasak briefed Cambodia's economic situation, full resumes of socio-economic activities, particularly touching on the Strategic Framework, and Programs for Economic Recovery in the Context of Living with the COVID19 in a New Normal 2021-2023 that focus on some priority areas in response to trade and investment development, cooperation, and moving towards graduating the LDCs.
Taking this occasion, Pan Sorasak thanked the EU and their people for the support in financial and technical assistances for Cambodia's development in key sectors such as trade, agriculture, health, rural development, human resources, and so on.
Valdis Dombrovskis noted that the bilateral trade cooperation with Cambodia has improved amidst the challenges posed by the global pandemic.
Acknowledging the challenges that Cambodia may face after Cambodia officially graduated from LDCs status, the European commissioner for trade vowed to further implement mechanisms to support the LDCs who plan to graduate from this status, including Cambodia, to adopt the GSP+ trade preferences in the future.
He also pledged to offer necessary technical assistance and capacity-building programs to support Cambodia's sustainable, inclusive, and resilient economic developmen.
For regional trade cooperation, the EU supports the kingdom in hosting the ASEAN Economic Ministers' Meeting in 2022 and raised a draft action plan to implement the ASEAN-EU Strategic Partnership (2023-2027) and the ASEAN-EU Consultation, paving ways for future progress of negotiations on the ASEAN-EU Free Trade Agreement.
Lastly, both sides agreed and pledged to continue the good dialogue and close cooperation with the spirit of mutual compliments and respect.
=FRESH NEWS
