Phnom Penh: The Ministry of Justice and the Asian Development Bank (ADB) have signed a memorandum of understanding to establish a commercial court in Cambodia, which will facilitate all trade-related disputes.

The signing of a Memorandum of Understanding (MoU) on Supporting the Capacity Building of Law Enforcement Officers and Cambodian Commercial Court Processes was held on Friday afternoon, 17 February 2023, between the Minister of Justice Koeut Rith and the Director of the Asian Development Bank in Cambodia, Ms. Jyotsana. Varma.

Through this Memorandum of Understanding, ADB supports the Ministry of Justice in technical matters, especially the preparation of laws and the participation in training human resources to ensure the organization and operation of a commercial court that is transparent, efficient and credible in Cambodia. In line with the objectives and vision of the Ministry of Justice to improve the investment and business environment in Cambodia.

Speaking at the event, the Minister of Justice emphasized that the establishment of a commercial court, ensuring transparency, quality, efficiency and fairness, is crucial to strengthening trust in resolving trade disputes and promoting a conducive environment. Investment and doing business in Cambodia.

"Establishing a good, efficient and credible commercial court for Cambodia is a priority for the Ministry of Justice," he said.

The Minister added that in order to be operational, it must be ensured that the Commercial Court is a court that ensures transparency, quality and accuracy.

The Minister thanked the ADB for providing technical support to the Ministry of Justice on the establishment of a commercial court and the strengthening of the capacity of Cambodian judges regarding trade laws and procedures, which are essential. In front of the Ministry of Justice.