The National Assembly (NA) has approved three draft laws related to domestic and foreign trade of Cambodia to ease and improve the doing business in the Kingdom.

The approval was made in the 6th session of the NA’s 6th legislature held here this morning under the chairmanship of NA President Samdech Akka Moha Ponhea Chakrei Heng Samrin.

The three draft laws, voted for by 102 lawmakers present at the session, include the draft laws on amendments to the Law on Commercial Enterprises and to the Law on Commercial Rules and Registration, and the draft law on approval on Free Trade Agreement between the Government of the Royal Government of Cambodia and the Government of the Republic of Korea (CKFTA).

The first two draft laws will promote the doing business in Cambodia, ensure the consistency, transparency with the laws and obligations of Cambodia under international conventions, treaties or agreements, and better prepare for economic recovery after the COVID-19 crisis.

CKFTA will be an important driving force to promote trade and investment flow between Cambodia and South Korea with mutual benefit, especially to accelerate the economic recovery of both countries after being seriously affected by the COVID-19 pandemic. The agreement will also contribute to enhancing long-term, strong partnership, strengthening economic partnership and expanding bilateral trade liberalisation between the two nations.

Source: Agency Kampuchea Press

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