Commerce minister Cham Nimul attends Cambodia’s 3rd Trade Policy Review (TPR) at the WTO in Geneva, Switzerland. Ministry of Commerce
Minister of Commerce Cham Nimul has described Cambodia’s 3rd Trade Policy Review (TPR) as “an excellent opportunity for Cambodia to showcase its recent progress on policies, implementation and commitments made as a member of the World Trade Organization (WTO)”.
She addressed the TPR meeting at the WTO headquarters in Geneva, Switzerland, on March 27.
In a video posted to the WTO’s social media on March 28, the Minister emphasised Cambodia’s support for the rule-based multilateral trading system and WTO principles.
Cambodia’s participation in the 3rd TPR meeting reflects its implementation and adherence to transparency, a fundamental principle of the multilateral trading system.
She also informed the meeting participants about the progress and key achievements the Kingdom has made since the 2nd TPR meeting, especially in terms of economic, trade and investment development.
She noted that these have contributed significantly to the country’s socioeconomic advancement and its transition toward graduating from Least Developed Country (LDC) status by 2029.
“The Trade Policy Review will serve as an external driving force for us to continue pursuing reforms, by looking for ways to advance within the multilateral trading system. As a small economy, it is crucial that the multilateral trading system remains open and based on rules,” said Nimul.
WTO director-general Ngozi Okonjo-Iweala congratulated the Cambodian government for successfully conducting its Trade Policy Review, and highlighted how Cambodia's economy is performing well, with one of the fastest growth rates in the ASEAN region and a projected growth rate of 6% in the coming years.
She encouraged the Kingdom to continue its efforts to achieve the goal of becoming a high-income country.
“We can say that Cambodia should continue on the right track by maintaining sound economic policies and a strong macroeconomic framework,” she added.
According to the Ministry of Commerce, during the meeting, many WTO members delivered statements expressing support and appreciation for Cambodia’s economic and trade progress over the past two decades since its accession to the WTO in 2004, particularly its economic resilience during the Covid-19 pandemic.
They also valued the Kingdom’s efforts in implementing its obligations under the WTO framework and encouraged the government to continue pursuing legal and institutional reforms, further developing key sectors, enhancing the business and investment environment, and promoting trade diversification in line with the Pentagonal Strategy Phase 1 and various national policies.
Since becoming a WTO member, Cambodia has participated in two previous Trade Policy Review meetings — the first in 2011 and the second in 2017.
According to a summary of Cambodia's Trade Policy Review (TPR) at the WTO, Cambodia, as a Least Developed Country (LDC), has achieved notable success in its approach to trade and membership in the WTO, which has driven economic growth and reduced poverty.
Since 2017 review, Cambodia has been one of the fastest-growing economies in the region, with trade playing a critical role.
The document also noted that during this period, the Kingdom made significant progress in modernising and strengthening its regulatory frameworks through continuous reforms related to trade and investment.
These efforts are ongoing, with a focus on attracting foreign direct investment (FDI), improving the business environment, enhancing export trade and developing industrial sectors.
Cambodia is currently on track to graduate from LDC status, with plans to complete the process by 2029, and aims to reach high-income status by 2050.
