Cambodia Considers TPP If All ASEAN Members Join

Cambodian Prime Minister Hun Sen announced that Cambodia would consider to join Trans-Pacific Partnership (TPP) if all ASEAN members reach consensus, speaking at the 18th Royal Government-Private Sector Forum held Friday at the Peace Palace.

Prime Minister Hun Sen stated that Cambodia should not depend on two or three big markets. The kingdom has started to diversify markets outside of the United States and Europe by negotiating bilateral trade agreements with Canada, China, Japan, Korea, and some countries in Africa. For the multilateral agreement, Cambodia must continue to push forward the Regional Comprehensive Economic Partnership and the Eurasian Economic Union.

At the same time, Prime Minister urged the Council for the Development of Cambodia to
(1) setup Special Economic Zone (SEZ) along the border;
(2) expand electricity grids and ensure cheaper price at SEZs;
(3) boost incentives for investment; and
(4) enhance trade facilitation and logistics at borders and SEZs.


Source: CNV

ASEAN payment connectivity a major step towards cutting transaction costs

Migrant workers, tourists and small and big businesses will be able to cut the cost of their financial transactions in Asean after regulators, bankers and non-bank operators decided to integrate and upgrade their financial services across the region.

Eight Asean countries agreed on Asean Payment Connectivity, which aims to cut transaction fees for migrants, tourists and businesses, during the meeting of Asean Finance Ministers and Central Bank Governors in Chiang Rai Wednesday.

Bank of Thailand (BOT) Governor Veerathai Santiprabhob and Perry Warjiyo, governor of Bank Indonesia (BI) signed the memorandum of understanding on Cooperation in the Area of Payment Systems and Financial Innovation.