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Cambodia wants FTA with UK soon

Cambodia’s Commerce Minister Pan Sorasak has told the British Ambassador Bill Longhurst that he would like to see the two countries enter a free trade agreement (FTA) as soon as possible following Britain’s decision to leave the European Union (EU). Cambodia does not have an FTA yet with Britain, therefore the minister wanted to push for one as soon as possible.

The feeling is FTA between Cambodia and Britain would strengthen bilateral trade and economic ties following Britain’s June 23 vote to leave the EU. Britain is expected to respond to Cambodia by the end of the year or early next year since it is in the stage of transformation after it leaves the EU.

The EU is one of Cambodia’s largest trading partners after the United States and more than 40 per cent of the country’s exports head to Europe. Cambodia’s EU exports are given preferential treatment under the ‘Everything but Arms’ initiative for least developed countries.

Britain has yet to evoke Article 20 of the EU treaties to formally leave the European Union and observers point out it could take at least two years.

 
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