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Home » Circular (SARACHOR) #63 on the Adoption of the Market Economy_941014

Circular (SARACHOR) #63 on the Adoption of the Market Economy_941014

Published: 2012 Mar 15

Ministry of Commerce

Royal Government of Cambodia

CIRCULAR (SARACHOR)

CIRCULAR NO. 63 ON THE ADOPTION OF THE MARKET
ECONOMY

Phnom Penh, October 14, 1994

       Pursuant to the directive No 536 dated October 19, 1993 of the Cabinet of the Prime Ministers

In order to implement the free market economy, the Ministry of Commerce hereby issue to all governors of provinces and towns the following instructions:

A free market economy is an economy which use the market mechanism as its foundations. Therefore in order to properly manage this market economy, it is suggested that the following market standards and guidelines be observed:

1.   All the prices of goods shall be determined by mutual agreement between buyers and sellers.

2.   The State shall allow free competition between traders. In order to foster competition, the State shall encourage the participation of all traders.

3.   The state shall guarantee to the traders freedom to move goods.

In order to protect the interests of the citizen, the following measures shall be taken:

a)   The sellers shall display the price of goods to the buyers.

b)   The state shall regulate and monitor  the quality of goods and assure the reliability of measurements.

c)   The state shall directly intervene in the market mechanism in the event of irregularity.

This circular shall enter into force from the date of its signature.

 

Minister of Commerce

Signature and Seal

VAR HUOT      

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