To bolster the Cambodian economy and commerce sector, the Ministry of Commerce and the Ministry of Economy and Finance held a crucial joint meeting on June 15 with the Senate's ninth commission. The aim was to expedite the ratification of the law on rules of origin.
The Ministry of Commerce confirmed that the meeting, chaired by Commerce Minister Pan Sorasak, was attended by key figures. Kong Sarach, the Chairman of the Senate's ninth commission, a member of the Senate's Standing Committee, and other pertinent participants joined the discussion.
Sorasak presented an enlightening brief to the attendees about the draft law on Rules of Origin. He underlined its purpose, genesis, contents, and potential benefits, hailing the draft as a fresh triumph for the legal standards of Cambodia's economic and trade sectors.
“This draft law on Rules of Origin not only benefits the economy and trade sectors, but also an important part of the global legal system. The law walks hand in hand with bilateral, regional, free trade and multilateral agreements. We have recently signed the Regional Comprehensive Economic Partnership (RCEP), the Cambodia-China Free Trade Agreement, and the Cambodia-Korea Free Trade Agreement,” declared Sorasak.
Welcoming Sorasak's remarks, Sarach commended the draft law's alignment with the Constitution, laws, and relevant legal regulations.
“I appreciate the efforts of the Minister of Commerce, the inter-ministerial working group, and the civil servants from the Ministry of Commerce to have actively carried out their professional duties in line with the policies and strategies of the government, with good and proud results. In particular, laws and regulations were built under the wise leadership of Prime Minister Hun Sen of Cambodia,” he said.