Cambodian officials are travelling to Moscow next month to discuss a free trade agreement (FTA) with the Eurasian Economic Union (EAEU). The EAEU sits between China and the European Union, and comprises Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia. It has a combined population of 183 million and an annual GDP (PPP) of US$5 trillion.
The announcement was made yesterday, following the conclusion of the ASEAN Economic Ministers summit held in Bangkok. A major theme of that were ASEAN ministers discussing cooperation between the Southeast Asia and the Central Asia-Eastern Europe blocs.
The Cambodian government stated that it believes the EAEU offers great opportunities in terms of trade expansion and is seeking greater cooperation with the bloc, including entering into a full free trade agreement. There are already some trade openings in play between Cambodia and the EAEU – due to Cambodia being classified as a Least Developed Country, 46 Cambodian products can enter the EAEU market duty free during the next three years, including Cambodian rice, silk, textiles, meat, vegetables, and coffee.