Phnom Penh (FN), Dec. 22 – Cambodian Prime Minister Hun Manet commended former Minister of Commerce Pan Sorasak, current Minister of Commerce Cham Nimul, and officials from the Ministry of Commerce for achieving a trade volume of more than USD 43 billion.
The premier spoke on Friday (Dec. 22) at the closing of annual meeting of the Ministry of Commerce.
According to the report from Minister Chamnimol, in the first 11 months of 2023, Cambodia's trade reached more than USD 43 billion, with a notable increase in exports compared to imports. Cambodia's trade surplus is high, which is a positive result for the country," Samdech Thipadei underlined.
Samdech Thipadei also commended the leaders and civil servants of the Ministry of Commerce for actively engaging in their duties with a proactive spirit and high sense of responsibility, resulting in key achievements include successful negotiations, opening up trade markets, enhancing production capacity for both domestic and export supply, human resource development, improvement of public service delivery, strengthening of trade facilitation, development of trade regulations, consumer protection, and active participation in the implementation of economic and social policy frameworks.
Additionally, efforts in digitalization and promoting the welfare of the people through maintaining price stability and food security have significantly contributed to the promotion of economic growth, good governance, and the fulfilment of the political program of the sixth-mandate Royal Government and the political program of the seventh-mandate Royal Government.
Samdech Thipadei Hun Manet continued by acknowledging that despite 2023 being a challenging year for the Cambodian economy due to negative global economic impacts, the Ministry of Commerce successfully transformed these challenges into opportunities through the realization of negotiations and the enforcement of several crucial bilateral and multilateral free trade agreements, including:
1. Cambodia-China Free Trade Agreement (CCFTA)
2. Cambodia-Korea Free Trade Agreement (CKFTA)
3. Regional Comprehensive Economic Partnership (RCEP)
4. Cambodia-UAE Comprehensive Economic Partnership Agreement (CEPA)
These agreements mark a new milestone in the execution of the policy aimed at strengthening existing markets while simultaneously expanding into new markets for Cambodian products.
Samdech Thipadei underscored that this strategic approach must be consistently implemented, focusing on maintaining and reinforcing existing markets while simultaneously pursuing opportunities in new markets to ensure product quality and reliability.
=FRESH NEWS
