Trade situation of Cambodia with foreign countries remain stable in 2020, a tough year which many external pressures to the country's trade trend.
The remarks were made at a press conference on Cambodia's Trade Update and Progress, held here on Feb. 6, where external issues and solutions were raised up to government officials.
H.E. Seang Thay, Under Secretary of State and Spokesperson at the Ministry of Commerce, said that Cambodian government is diversifying markets for its goods and agricultural products and pushing for enhanced quality production for export.
We are diversifying markets from the existing ones like the EU and China, which are the biggest markets, to Asia Pacific and Africa, he underlined. At the same time, the government is targeting other markets such as Eurasia and expanding potential markets, including China and South Korea, through negotiations on free trade agreements.
Concerning the possible suspension of EU's Everything But Arms (EBA) scheme, H.E. Seang Thay said Cambodia has made a series of internal reforms to enhance investments and businesses aiming to make Cambodia-made products more competitive in the markets.
Source: Agency Kampuchea Press