Phnom Penh: On the morning of 9 September 2021, His Excellency Pan Sorasak, Minister of Commerce, led an inter-ministerial delegation to attend a meeting to defend three draft laws: (1) the draft law on the Regional Comprehensive Economic Partnership (RCEP) Agreement and (2) the draft law on the Free Trade Agreement between the Government of the Kingdom of Cambodia and the Government of the People's Republic of China and (3) the draft law on Competition during the sixth plenary session of the sixth legislature mandate of the National Assembly under the high presidency of Samdech Akka Moha Ponhea Chakrei Heng Samrin, President of the National Assembly of the Kingdom of Cambodia.
To begin with, His Excellency Dr. Cheam Yeap, member of the Standing Committee and Chairman of the Economic, Financial, Banking and Auditing Committee of the National Assembly and Her Excellency Nin Saphon, member of the Standing Committee and Chairperson of the 9th Committee of the National Assembly informed the meeting about the progress and process of reviewing the above three draft laws, in which the 2nd Committee reviewed the draft law on the Regional Comprehensive Economic Partnership Agreement (RCEP) and the 9th Committee of the National Assembly in collaboration with the 5th Committee reviewed the draft law on the Free Trade Agreement between the Royal Government of the Kingdom of Cambodia and the Government of the People's Republic of China and the draft law on Competition, and stressed that the request for approval of the three draft laws is in accordance with the provisions of the Constitution and internal regulations of the National Assembly.
The Minister of Commerce, on behalf of the Royal Government of Cambodia, addressed the meeting on the inter-ministerial-institutional working group led by the Ministry of Commerce in implementing the policies and mandates given by the Royal Government to strengthen the capacity of Cambodia to continue its integration into the regional and global economy, especially under Section 2.2.2 covering the environment for the implementation of the entire Rectangular Strategy, Phase 4 of the Royal Government of the sixth legislature mandate of the National Assembly. His Excellency Minister highlighted the benefits and importance of the above three draft laws, and in particular, good and close cooperation with key relevant ministries and institutions in achieving these achievements, which is an important mechanism for market diversification and promoting economic, trade and investment linkages in both bilateral and regional frameworks.
The meeting commended the Ministry of Commerce and the inter-ministerial-institutional negotiation team led by the Minister of Commerce for their efforts to draft trade laws and regulations aimed at improving the business environment and, in particular, its efforts to successfully complete the negotiation of the above two free trade agreements in accordance with the mandate provided by the Royal Government.
As a result, after a thorough review, the meeting fully approved (1) the draft law on the Regional Comprehensive Economic Partnership (RCEP) Agreement (2) the draft law on the Free Trade Agreement between the Royal Government of the Kingdom of Cambodia and the Government of the People's Republic of China and (3) the draft law on Competition.
Finally, His Excellency Minister, on behalf of the Royal Government of Cambodia, expressed his deep gratitude to the entire meeting for its approval and sincerely hoped that these three laws will provide significant benefits to the whole society and especially promote the Cambodian economic growth for the better and play an important role in the Royal Government's efforts to rehabilitate the socio-economic situation in the Covid-19 crisis. His Excellency the Minister
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