Phnom Penh: Cambodia has registered about 340 more itemsTo export to China under the Cambodia-China Bilateral Free Trade Agreement, which brings in a total of more than 10,000 items.
A senior official of the Ministry of Commerce said that most of the products are in the agricultural and agro-processing sector and that is what Cambodia has Obtained from the ASEAN-China Free Trade Agreement.
Sok Sopheak, secretary of state at the Ministry of Commerce and chairman of the Cambodian negotiating team, did not say whether the free trade agreement between Cambodia and China would The agreement was to be signed at any time, but he said the two sides had agreed on technical and legal aspects.
Mr. Sopheak added: “Based on the Cambodia-China FTA negotiations, more than 10,000 products will be registered for export to China from China, while China will be allowed to register more than 9,500 products for export to Cambodia.
Speaking at a press conference yesterday, Mr. Sopheak said that the Cambodia-China Bilateral Free Trade Agreement would be signed soon and expected Will be implemented early next year. He said the agreement was historic. It is a comprehensive agreement and will provide many benefits and increase investment in Cambodia.
Sopheak added that China is the world's second largest economy, so each country wants to trade and cooperate with This country. With the Cambodia-China Free Trade Agreement, more investment is expected in Cambodia from China and other countries that will focus on On China for exports, especially in the agro-processing sector. It will create jobs and generate tax revenue for the government.
The 340 products include peppers, peppers, fresh vegetables, fruits, fish, meat (including processed), grains, crabs, seafood and a variety of canned products. Of the 340 additional items in the Cambodia-China Free Trade Agreement, 95 percent of them will not be shipped, according to the Secretary of State. No. The tax will be reduced to the remaining 5 percent for at least 10 years.
He said the goods to be taxed were rice, rubber, tobacco, sugar, flour and paper products. If these products are under the current quota, they will be exempted, but anything beyond the quota provided will be taxed while the goods The other 51 items, including car parts and vehicles, will be taxed. However, at present these products are not manufactured and exported from Cambodia. They will have to pay taxes up to 10 years before taxes are deducted.
Mr. Sopheak added that while Cambodia is one of the least developed countries, so with this situation, Cambodia can reduce tariff steps. Step-by-step instructions for products imported from China. It will take at least 5 to 10 years or 20 years to change the tariff to zero.
Mr. Sopheak added that most of the products imported from China are raw materials for garments, machinery, construction, steel and other items. Other uses. He added: "We have agreed that each country can not use standards, regulations, techniques and performance appraisals as a barrier to doing so. No trade. ”