The Cambodian Ministry of Commerce, together with DANIDA, has launched the Trade Development Support Program (TDSP) worth 12.6 million U.S. dollars to assist Cambodia to expand its international trade, according to a press release from the World Bank’s country office in Cambodia.
“The program focuses on legal reforms, trade facilitation and product standards, and is designed to empower the Royal Government of Cambodia (RGC) to facilitate trade by improving regulations and internal processes,” it said.
TDSP is part of the trade sector-wide approach, which unites all activities funded by development partners to assist the RGC to enhance its trade potential.
“It is a strong commitment of the RGC to translate Aid for Trade into concrete actions that will contribute to a more robust private sector and overall income generation,” Cambodian Minister of Commerce Cham Prasidh stated at the launching ceremony.
The program is financed by the European Commission, the Danish International Aid Agency (Danida) and the United Nations Industrial Development Organization (UNIDO), and will be administered by the Wold Bank