Media release

15 October - MVT81/2004

Australia Welcomes Cambodia's WTO Membership

Trade Minister Mark Vaile today welcomed Cambodia's accession on 13 October to the World Trade Organisation.

"I congratulate Cambodia on becoming the 148 th member of the WTO, almost ten years after it first applied to join. Cambodia becomes the second least-developed country to join the WTO through the accession process," Mr Vaile said

"Cambodia's membership of the WTO will enhance its capacity, as a least-developed country, to integrate more fully into the global economy and contribute to creating a more open trading environment".

Australia is committed to assisting ASEAN countries such as Cambodia with capacity-building to ensure that all ASEAN members can participate fully in the international economic community.

As part of the accession process, Cambodia and Australia concluded a bilateral market access agreement that covers current and prospective Australian exports in goods and services.

"While Australia's trade with Cambodia is not large, WTO membership will create a good foundation for developing this trade. As Cambodia reforms and develops its economy, there will be growing commercial opportunities for Australian companies," Mr Vaile said.

It is also a welcome development in the lead-up to the ASEAN-Australia-New Zealand Summit where leaders will consider a recommendation from their economic ministers to launch negotiations towards an ASEAN-ANZ Free Trade Agreement.

Contact: Matthew Doman 02 6277 7420, DFAT Media Liaison 6261 1555