China and Cambodia signed a free trade agreement on Monday, put together in under a year and aimed at slashing tariffs and boosting market access between Beijing and one of its most important Asian allies.
FILE PHOTO: Chinese State Councilor and Foreign Minister Wang Yi welcomes Cambodian Prime Minister Hun Sen as he arrives at the Beijing Capital International Airport in Beijing, China February 5, 2020. China Daily via REUTERS
The signing was attended by the Chinese government’s top diplomat, State Councillor Wang Yi and Cambodian Prime Minister Hun Sen at a ceremony streamed online. The agreement, which he said he hoped would come into effect early next year, “would provide a more robust economic partnerships through a higher degree of market access, liberalisation for goods, services and investment,” he said.
Depending on its terms, the deal could be a boost for Cambodia, which suffered the suspension last year of part of its special trade preferences with the European Union, a key market for its exports, over human rights concerns.
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