1 September 2014
Russia is
set to approve duty- and quota-free imports for up to 3,000 Cambodian
agricultural products.
A statement
issued by Cambodia’s Ministry of Commerce on Friday states that Russia’s
Minister for Economic Development agreed in principal to increase the number of
Cambodian products eligible for duty-free import status.
The deal
comes as Russia moves to diversify its trade partners while it continues to
impose a food import ban from last month that shuts the door on all foodstuffs
imported from Western nations in response to sanctions imposed by European
nations and the US over Russian involvement in the Ukrainian conflict.
According
to the Russian Embassy in Cambodia, bilateral trade between the two countries
reached $133.2 million last year, up from $10.8 million in 2006.
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