Thursday, April 24, 2014

ADB Recognizes Cambodia’s Efforts in Preparing for AEC

24 April 2014

ADB lauded Cambodia’s efforts in preparations for the ASEAN Economic Community (AEC) in 2015. Cambodia is preparing well for the establishment of AEC by end 2015, but needs to step up reforms to improve the transparency and reliability of its regulatory systems to encourage more investment.

In order to take advantage of the opportunities presented by the AEC, Cambodia needs to invest more in education and health. Apart from directly reducing social and asset inequities, this will produce a workforce more able to actively participate in the growth process and adapt to structural changes that result directly from the AEC.

Finally, to lessen its reliance on garments, and to increase trade linkages with ASEAN countries, Cambodia will have to diversify its export commodity base. Agricultural products, tourism and modern services all represent areas of opportunity that the AEC presents.

Source:
http://www.akp.gov.kh/?p=44445

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