On May 19, the Council of Ministers approved the draft rule of origin law, which has three main objectives: to make origin verification procedures easier; to increase imports and exports, particularly those who receive preferential treatment; and to offer protections against counterfeit goods. According to a statement from the Cabinet, the proposed law creates a clear legal framework for agencies in charge of identifying the sources of commodities, issuing certificates of origin (CO), or promoting or supporting the export of goods from Cambodia. In comparison to the same time last year, Cambodia's imports and exports came in at $7.927 billion and $7.234 billion, respectively, down 21.07 percent and 4.89 percent from $10.043 billion and $7.606 billion.

Reference: Hin, P. (2023, May 23). Rule of origin law to up confidence in local products. Phnom Penh Post. Retrieved from https://www.phnompenhpost.com/business/rule-origin-law-confidence-local-products