Prim minister Hun Sen has said that his mission to participate in the 7th Aid-for-Trade Global Review at the Headquarter of the Word Trade Organization (WTO) in Geneva, Switzerland is a great success.
At the conference, Mr. Hun Sen shared Cambodia’s experiences in formulating trade policies and strategies for socio-economic development after Cambodia became a member of the WTO in 2004.
In addition, he also spoke about the nation’s current and future role in supporting multilateral trading system and maintaining global trade liberalization.
A statement released by the Ministry of Foreign Affairs said: “The Prime minister has expressed his appreciation to the WTO for supporting economic diversification in developing countries and least-developed country (LDCs) and also and underlined Cambodia’s belief in benefiting from globalization and international cooperation based on multilateral rules and efforts to fulfill her obligation under the WTO.
It added that Cambodia has achieved an average annual economic growth of 7.7 percent the last two decades in an inclusive and equitable manner.
“The poverty rate has declined from 53.20 percent in 2004 to less than 10 percent in 2018,” the statement said, adding that Cambodia has also diversified not only its products for exports but also its export destination beyond the US market to other markets, such as Europe, Japan, China, Asean, and other countries.”
At the meeting in Geneva, Mr Hun Sen highlighted Cambodia’s commitment in promoting human rights and democratic process in Cambodia over the past two decades, underlining that Cambodia, which went through a horrendous regime that provided no rights at all to the people, is now in a dire need for such rights.
“Cambodia clearly understands that respecting human rights, promoting fundamental freedom, adhering to liberal multi-party democracy and promoting the rule of law as well as building up these foundation in society, will certainly continue to bring about peace, stability, harmony and social justice, It will also contribute to sustainable and inclusive development,” the premier said.