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Feasibility Study of the Free Trade Agreement between The Kingdom of Cambodia and The Eurasian Economic Union

Feasibility Study of the Free Trade Agreement between The Kingdom of Cambodia and The Eurasian Economic Union
4 December 2019
Cambodia, Trade
Ministry of Commerce of Cambodia, Ministry of Economy and Finance of Cambodia
Shandre Thangavelu and team
trade, free trade agreement, trade in services, trade policy modelling

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To expand market access to Eastern Europe, Cambodia is currently exploring a free trade agreement (FTA) with the Eurasian Union – a common market comprised of five nations (Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia), 176 million people, and a gross domestic product of US$2.5 trillion. An FTA between Cambodia and the Eurasian Economic Union (EAEU) would allow both sides to increase trade, investment, and economic collaboration. The study examined the key impacts of Cambodia–EAEU FTA (CEFTA) on the Cambodian economy and the Association of Southeast Asian Nations (ASEAN) region in terms of trade, investment, welfare, and growth impact on the domestic and regional economy.

CEFTA appears to be a win-win opportunity for Cambodia for deepening its economic integration into the global production value chain and integrating its economy with Central Asia and Russia. CEFTA is also expected to create potential dynamic gains for Cambodia through its integration with the global economy and through implementation of key structural reforms in the domestic economy within a structured framework. Global Trade Analysis Project (GTAP) simulations show greater potential dynamic output gains for Cambodia if the Cambodia–EAEU FTA leads to deeper and more structural economic liberalisation.

Full Report



Title Page

Preface, Acknowledgements, and Project Contributors


List of Figures and Tables

Abbreviations and Acronyms

Executive Summary

Chapter 1. Macroeconomic Trend of Cambodia and EAEU Members

Chapter 2. Free Trade Agreements: Cambodia

Chapter 3. Free Trade Agreements: EAEU

Chapter 4. Investment Potential Between Cambodia and the EAEU

Chapter 5. Revealed Comparative Advantage of Cambodia and EAEU Member Countries

Chapter 6. Trade in Services: Cambodia and the EAEU

Chapter 7. EAEU-Viet Nam Free Trade Agreement and ASEAN Framework Agreement on Services

Chapter 8. Tariff Data of the EAEU and Its Member States

Chapter 9. Trade Policy Modelling: Impact of CEFTA on Cambodia

Chapter 10. Policy Recommendations

References and Annexes

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