Cambodian NA adopts ASEAN-India cooperation deal

Cambodia’s National Assembly (NA) on Dec. 28 approved the draft law on the framework agreement on comprehensive economic cooperation between ASEAN and India.

Tuesday, December 28, 2010 21:01

Cambodia’s National Assembly (NA) on Dec. 28 approved the draft law onthe framework agreement on comprehensive economic cooperation betweenASEAN and India.

The agreement aims at enhancingthe cooperation on investment, trade and economics between theAssociation of Southeast Asian Nations (ASEAN) and India, Kong Vibol,Secretary of State at the Ministry of Economy and Finance was quoted byChina’s Xinhua News Agency as saying.

The keyelements of the agreement cover the Free Trade Area in goods, servicesand investment, as well as areas of economic cooperation, said theSecretary of State.

Also on Dec. 28, the Cambodianparliament passed the agreements on goods and on dispute resolutionmechanism under the framework agreement of comprehensive economiccooperation between ASEAN and India .

Kong Vibolsaid that bilateral trade between Cambodia and India remainedmodest. Cambodia 's exports to India include palm oil, grain oil andgarments, while India 's exports to Cambodia are mostlypharmaceuticals and textile accessories.

Theframework agreement on comprehensive economic cooperation between ASEANand India was signed by the Prime Minster of India and the Heads ofthe Governments of ASEAN members during the Second ASEAN-India Summit onOct. 8, 2003, in Bali, Indonesia.

ASEAN nowconsists of Brunei, Cambodia, Indonesia, Laos, Malaysia,Myanmar, the Philippines, Singapore, Thailand and Vietnam./.

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