Phnom Penh: Cambodia’s General Department of Taxation (GDT) and Myanmar’s General Department of Internal Revenue have accelerated talks on negotiations on a Double Taxation Agreement (DTA) aimed at promoting trade and investment.

According to Agence Kampuchea Presse, a GDT delegation led by Mr. Seng Cheaseth, Director of Legislation, Tax Policy, and International Tax Cooperation, held a virtual meeting from January 13 to 15 for the second round of discussions on the agreement with Myanmar’s delegation headed by Mrs. KHIN Yamon Aung, Deputy Director General of Internal Revenue, Myanmar’s Ministry of Planning and Finance.

In the meeting, Mr. Seng Cheaseth expressed his appreciation for Myanmar’s efforts in preparing for the second round of DTA negotiations. He stated, “This DTA agreement will be a driving force in promoting improved trade and investment relations between Cambodia and Myanmar.”

The discussions were comprehensive, addressing all remaining articles and points from the first round that required consensus. Both parties successfully resolved all outstanding issues, reaching a full agreement on all 31 articles of the DTA.

Two-way trade between Cambodia and Myanmar remained steady, with a total volume of US$31 million in the first 11 months of 2024, as reported by the Ministry of Commerce. The Royal Government of Cambodia is actively working to enhance its investment climate by negotiating DTAs with several countries in the region and Europe. Cambodia has already implemented DTAs with nations such as Singapore, China, Thailand, Brunei, Vietnam, Indonesia, Hong Kong SAR, Malaysia, and South Korea.