China-Cambodia FTA to Take Effect on January 1, 2022
SIGNING AUTHORITIES:
Government of People's Republic of China
Government of Kingdom of Cambodia
DATE OF SIGNING:
October 12, 2021
The China-Cambodia Free Trade Agreement (“FTA”) will officially take effect on January 1, 2022, the Ministry of Commerce (MOFCOM) announced on November 22, 2021.
The FTA was signed on October 12, 2020. According to the FTA, the percentage of zero-tariff products in goods trade will reach more than 90 percent on both sides, and the commitment to open market in service trade also reflects the highest level given by each side to its FTA partner. Meanwhile, the two sides also agreed to strengthen investment and deepen cooperation in areas such as the Belt and Road Initiative, e-commerce and economic technology.
The FTA is a milestone in the development of bilateral economic and trade relations and will help enhance the welfare of enterprises and people of both countries.
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