Trade body seen as key to exploring new markets

Cambodian officials are eyeing membership of a regional trade body involving China and India as part of efforts to reduce the country's reliance on traditional export markets in the United States and Europe.

Senior government minister Ly Thuch said the Ministry of Commerce was well advanced in discussions with member countries of the Asia-Pacific Trade Agreement (APTA).

"Joining APTA will help us integrate further in the Asia-Pacific region as well as give us more access to the most dynamic markets in Asia," he said, referring specifically to India, China and South Korea.

APTA, previously known as the Bangkok Agreement, is a preferential tariff arrangement signed in 1975 as an initiative of the UN's Economic and Social Commission for Asia and the Pacific (ESCAP) to promote intra-regional trade through concessions between member countries. Click to read more...