Phnom Penh (FN), Dec. 22 – Cambodian Prime Minister Hun Manet told the Ministry of Commerce to be prepared to negotiate for new favourable conditions via the Generalised Scheme of Preferences Plus (GSP+) to maintain market and production balance as well as attract more investment to Cambodia.

The premier spoke on Friday (Dec. 22) at the closing of annual meeting of the Ministry of Commerce.

"The Ministry of Commerce must be ready to negotiate for new favourable conditions through the GSP+ in order to maintain the market and production balance, as well as to attract investment in Cambodia. In particular, the study on the impact of the loss of favourable condition, special treatment, and partial favourable, especially after Cambodia graduated from the Least Developed Country (LDC) status," the premier underscored.

On the occasion, Samdech Thipadei also instructed the Ministry of Commerce to study the impact of graduating from the LDC status, especially under the framework of the World Trade Organization (WTO) and a regional framework for the Cambodian economy as Cambodia could graduate as early as 2027.

Samdech Thipadei reiterated that Cambodia's development hinges on two conditions. Initially, when our nation is in need, assistance is provided. Secondly, they will let us learn to live independently when we can survive on our own.

At the same time, Samdech Thipadei also instructed the Ministry of Commerce to actively participate in promoting the digital economy and business, especially the promotion of e-commerce through the support and encouragement of Cambodian producers to enter the digital market platform domestically and internationally, promoting registration, strengthening governance for digital business, and implementing trade facilitation under the framework of national law and international agreements.
=FRESH NEWS