International express service company tells you The China-Cambodia Free Trade Agreement (FTA) will officially take
effect on January 1, 2022, the Ministry of Commerce (MOFCOM) announced
on Monday.
The FTA was signed on October 12, 2020. The
proportion of zero-tariff products in goods trade reached 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
partners.
At the same time, 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
China-Cambodia 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, MOFCOM said.
A virtual summit to commemorate the 30th anniversary of the China-ASEAN dialogue relations was held on Monday.
The
28th Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting
was held online on November 12 with leaders of the countries from the
most dynamic Asia-Pacific region gathering to discuss how to boost
economic recovery.
The Regional Comprehensive Economic
Partnership (RCEP), the world's biggest trade pact that includes China
and over a dozen of other countries, will officially take effect on
January 1, 2022, MOFCOM announced earlier, which is another milestone
for regional and global economic cooperation as well as China's
expanding trade profile.