Media Release
Friday, 27 June 2003 - MVT48/2003
Australia and Cambodia Agree on WTO Membership Terms
Australia and Cambodia trade relations are set to develop with the conclusion of a market access agreement which will assist Cambodia join the World Trade Organisation, Trade Minister Mark Vaile announced today.
"The finalisation of market access negotiations between Australia and Cambodia highlights the commitment of our countries to trade liberalisation, and the crucial role of the WTO in providing a framework to protect and advance the interests of small and medium-sized countries," Mr Vaile said.
"While Australia's current trade with Cambodia is not extensive, the negotiations have created a good foundation for developing our trade further. As Cambodia reforms and develops its economy, there will be growing commercial opportunities for Australian firms.
"This is another very positive development in Australia's relationship with Cambodia. Cooperation in trade is an important component to the overall wellbeing of the relationship between our two countries."
The agreement covers current and prospective Australian export interests in goods and services and will take effect when Cambodia joins the WTO, after it has concluded similar negotiations with other WTO members.
"I would hope the way would be cleared for Cambodia to join the WTO later this year. WTO membership will enhance Cambodia's capacity, as a least developed country, to integrate more fully with the global economy and contribute to creating a more open trading environment, both regionally and beyond," Mr Vaile said.
Australia's conclusion of a market access package with Cambodia is in line with the agreement by Ministers at the Doha WTO Ministerial Conference in 2001 to facilitate and accelerate the accession of least developed countries to the WTO, in recognition of the need to integrate the world's poorest countries into the global trading system.
"Australia will continue to provide a range of trade-related technical assistance to Cambodia to help with capacity building and to assist its WTO accession."
Contact: Matthew Doman 02 6277 7420