China, Cambodia sign bilateral free trade agreement

Cambodian Prime Minister Samdech Techo Hun Sen and visiting Chinese State Councilor and Foreign Minister Wang Yi attend the signing ceremony of a free trade agreement (FTA) between the two countries in Phnom Penh, Cambodia, Oct. 12, 2020. (Xinhua/Mao Pengfei)

China and Cambodia on Monday signed a free trade agreement (FTA) between the two countries.

The deal was inked virtually between Cambodian Commerce Minister Pan Sorasak and Chinese Commerce Minister Zhong Shan under the presence of Cambodian Prime Minister Samdech Techo Hun Sen and visiting Chinese State Councilor and Foreign Minister Wang Yi.

Hun Sen spoke highly of the FTA, saying that it is of great significance economically and politically. He believes that through friendly cooperation between the two countries, Cambodia's development will be getting better and better.

Wang Yi said that the signing of the FTA has sent a strong signal and it will help Cambodia address challenges brought by the COVID-19 pandemic and will promote the socioeconomic development in the Southeast Asian nation.

The China-Cambodia FTA is the first-ever bilateral free trade agreement for Cambodia.