The Ministry of Commerce is asking for the cooperation of the private sector to compile a list of products that could sell well in the Eurasian Economic Union.
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The list will be used by the Cambodia government during trade negotiations with EAEU, a political, military and economic union formed by five countries – Russia, Belarus, Kazakhstan, Armenia, and Kyrgyzstan.
Speaking during a workshop yesterday, Tek Reth Kamrang, Cambodia’s secretary of state at the Ministry of Commerce, said Cambodia was granted preferential trade status in the EAEU market three years ago. 46 products can enter the EAEU market duty-free, she said.
Despite the trade privileges Cambodia enjoys, exports to EAEU are still relatively small, mostly composed of rice, fish and meat, she added
“We have to disseminate information on Cambodia’s preferential trade status in EAEU so that more people take advantage of this opportunity.
“Our EAEU partners have asked us to put together a list of potential products we can export and how much of them we have. We have to collect that information from the private sector before we can negotiate with EAEU,” Ms Kamrang said.
“EAEU is not an old market for us, but it is a growing market,” she said, adding that Cambodia-EAEU trade is valued at $400 million.
Around 183 million people live in EAEU, whose GDP nears $5 trillion.
In 2016, Cambodia and EAEU signed a MoU to enhance cooperation in trade. Cambodia is currently exploring a free trade agreement with the union.