PHNOM PENH: The Ministry of Commerce held a crucial meeting on Wednesday, August 28, to discuss the development of Cambodia’s Trade Policy Framework Towards 2030.
Chaired by His Excellency KEM Sithan, Permanent Secretary of State, the meeting brought together ministry leaders, advisors, and stakeholders to review and approve the initial framework.
This meeting aims to review and approve in principle the concept notes of the six pillars of the Cambodian Trade Policy Framework Towards 2030 and also approved work schedule and composition of the working groups of each pillar under the leadership of the Ministry of Commerce with the participation and consultation of inter-ministries and government agencies, development partners, and private sectors.
The Cambodia Trade Policy Framework Towards 2030 aims to formulate strategies and policy directions to address current and future trade challenges, in line with the Pentagonal Strategy Phase 1, especially for Cambodia to prepare for LDC graduation by 2029.
The Cambodian Trade Policy Framework also aims to stimulate and accelerate economic growth by improving the business environment and trade infrastructure, maintaining existing markets and improving market access, and promoting targeted sectors’ development.
During the meeting, participants reviewed and approved the concept notes for the six pillars of the trade policy framework: integrating trade into the global economy, strengthening trade competitiveness, promoting inclusive and sustainable trade, developing digital trade, targeting specific sectors, and preparing for LDC graduation.