Cambodia and Canada have agreed to extend trade facilitation agreement to strengthen and expand their bilateral economic and trade cooperation based on win-win principle.
The agreement was made during a bilateral meeting between Cambodian Minister of Commerce H.E. Pan Sorasak and Canadian Ambassador to Cambodia H.E. Ms. Donica Pottie, at the ministry office in Phnom Penh on Oct. 16.
H.E. Pan Sorasak briefed his guest on Cambodia's strong economic growth thanks to contribution of construction, textile, tourism and agriculture sectors.
H.E. Minister highlighted the Royal Government of Cambodia (RGC)'s endeavour to back textile sector by finding more potential markets and enhancing the workers' and employees' well-being. The RGC has abided by labour oblilgations set by the International Labour Organisation (ILO) since 1999 and supported Better Factories Cambodia project to improve working conditions and competitiveness in this sector.
H.E. Ms. Donica Pottie spoke highly of the RGC's reform efforts under the wise leadership of Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen in enhancing the textile sector and seeking advantages for workers and employees. She encouraged the RGC to continue to stick to this employment standards to bring about win-win situation to all stakeholders in the industry.
H.E. Ambassador also pledged to examine the possibility to encourage Canadian investors to invest in main raw material processing for development of textile industry and modernisation of agriculture field in Cambodia.
According to the Ministry of Commerce, the trade exchange between Cambodia and Canada was US$1.04 billion in 2017, with an annual increase of 11 percent on average, of which Cambodia's exports to Canada were valued at US$1 billion while its imports from Canada at US$40 million.
Cambodia's potential exports include clothes, footwear, furniture, plastic, toys and agricultural products, and so on.
Source: Agency Kampuchea Press