China-Cambodia FTA into effect 1 Jan 2022
China's Ministry of Commerce announced that The China-Cambodia Free Trade Agreement will come into effect on January 1, 2022.
The China-Cambodia Free Trade Agreement was signed on October 12, 2020, and Cambodia has more than 340 products that can be exported to China, 95% of which have zero tariff and the other 5% will be reduced in 10 years or within a specified period.
Cambodia's exports to China have maintained a growth rate of 6% to 10%. Among them, the main products exported from Cambodia to China are garments, footwear, rice, rubber, cassava, bananas, cashew nuts, etc.
Most of Cambodia's duty-free products to China are chemical minerals for industrial use, and plastics for assembly and export.
China is Cambodia's largest trading partner, and bilateral trade between China and Cambodia reached nearly $5 billion in the first half of 2021, up 31 percent year-on-year.