Cambodia seeking to increase exports to Eurasia

Cambodia held its first business forum with the Eurasian Economic Union (EAEU) on Saturday, seeking closer economic ties with former soviet states to expand and diversify its export destination. Cambodian Commerce Minister Pan Sorasak said the EAEU holds great potential as a market for Cambodian exports and expressed an interest in establishing a free trade agreement (FTA) with the Eurasian economic bloc—which comprise of Belarus, Kazakhstan, Kyrgyzstan and Russia. Tatiana Valovaya, a board member of the Eurasian Economic Commission (EEC), said Cambodia and EAEU are quickly developing a strong relationship and that she expects the economic ties to keep on growing. Last year trade between the EAEU and Cambodia increased by 30%, reaching $153mn. However, EAEU exports to Cambodia amounted to just $8mn in 2016. (Source: Khmer Times)