Cambodia, China Sign AEO Agreement to Boost Bilateral Trade

(Phnom Penh): The General Department of Customs and Excise of Cambodia (GDCE) and the General Administration of Customs of China (GACC) on Thursday (June 4) signed the Cambodia–China Authorised Economic Operator Mutual Recognition Arrangement (AEO MRA), aimed at facilitating trade and strengthening supply chain cooperation between the two countries. The agreement was signed by GDCE Director General Kun Nhem and GACC Minister Sun Meijun. The Cambodia-China AEO MRA is expected to facilitate international trade and business activities between the two countries by simplifying customs procedures, reducing physical inspections of goods, and accelerating customs clearance processes for companies with a high level of compliance. Cambodia currently has 11 AEO-certified companies and aims to increase the number to 30 by the end of 2026. The agreement is considered strategically important for further expanding trade and investment between Cambodia and China by reducing time and costs, enhancing business competitiveness, and strengthening the security of supply chains in both countries. The signing ceremony also serves as another testament to the spirit of the "ironclad friendship" and the Comprehensive Strategic Partnership between Cambodia and China, particularly in advancing the Cambodia-China Community with a Shared Future in the New Era. In line with this comprehensive strategic partnership, China remains not only a close friend of Cambodia but also its largest trading partner and the most significant source of foreign direct investment (FDI), contributing substantially to the Kingdom's economic development and infrastructure expansion.=FRESH NEWS