The Cambodian Ministry of Commerce and the Australian Embassy, along with relevant institutions, on 9 January co-launched two key market research publications and a Single Digital Platform development project.
It is hoped the market information booklets – Cambodian Crops with Prospects for the EU and RCEP Markets and Cambodia and Unlocking Global Markets by Leveraging Free Trade Agreements (FTA) – will serve as guides to unlock long-term benefits for Cambodia’s agricultural sector.
Minister of Commerce Pan Sorasak said Cambodian Crops with Prospects for the EU and RCEP Markets offer important insights into market demand, consumer preferences, sanitary and phytosanitary biosecurity measures, non-tariff barriers to trade, product utilisation, key competitors and potential windows of opportunity.
“Promising crops included in this report are fresh mango, cashew, chilli, sweet potato, palm sugar, avocado, sesame and processed fruits.
“This information, if used strategically, has the potential to generate long-term benefits for Cambodian agriculture,” Sorasak said.
The Cambodia and Unlocking Global Markets by Leveraging Free Trade Agreements booklet provides up-to-date and easy-to-understand information on the bilateral and regional free trade agreements Cambodia is a signatory to, such as RCEP, the Cambodia-China FTA and the Cambodia-Korea FTA, he added.
“The booklet will help agri-food enterprises, producers, exporters, business associations and other relevant stakeholders to access market diversification opportunities and enjoy the benefits of these FTAs,” Sorasak said.
The Single Digital Platform will emulate Australia’s own FTA portal and act as a comprehensive resource for exporters and importers exploring the benefits of Cambodia’s FTAs.
According to the ministry, the platform will also provide information on rules of origin, procedures to register as an exporter and the ability to obtain certificates of origin.
Australian Ambassador to Cambodia Pablo Kang said the two key market research booklets and the upcoming Single Digital Platform will make it easier for businesses to access useful information to increase trade.
“AANZFTA, RCEP and other free trade agreements offer enormous opportunities to leverage exports and investment for Cambodia.
“Australia is very pleased to support Cambodia in the sector to diversify crops and export markets,” Kang said.
The two publications were produced with the support of the concluded Cambodia Australia Agricultural Value Chain (CAVAC) programme.
The digital platform will be supported by Australia’s new economic development programme, the Cambodia Australia Partnership for Resilient Economic Development (CAP-RED).
CAP-RED is Australia’s A$87 million (currently US$60 million) flagship economic development programme in Cambodia, which aims to support the Kingdom in leveraging free trade agreements and preparing for graduation from Least Developed Country status.
It will also assist the Kingdom in promoting inclusive trade and investment policies and practices, and building eco-systems to increase trade and investment.
Both sides have expressed commitment to strengthening cooperation and enhancing trade between Australia and Cambodia, and continued collaboration in other areas of mutual interest.