CCC, KCCI pledge to boost trade, investment
CCC, KCCI pledge to boost trade, investment
The Cambodian Chamber of Commerce (CCC) and the Korean Chamber of Commerce and Industry (KCCI) have agreed to promote investment and trade cooperation to attract more Korean investors to Cambodia.
The commitment was made during a meeting held in Seoul, South Korea, last week between the two chambers co-chaired by CCC Vice-President Lim Heng and KCCI’s Vice-President Seong Woo Lee.
Both sides also discussed future cooperation projects and explored mutual business opportunities.
Heng expressed satisfaction over the continued good cooperation between the two chambers, in which both institutions successfully organized the Cambodia-Korea Business Forum on May 16 this year and signed a Memorandum of Understanding.
The MoU was signed in accordance with the bilateral free agreement as well as the partnership agreement.
Heng emphasized the good relations between the two countries, citing that Korea and Cambodia have a number of cooperation frameworks, such as the Cambodia-Korea Free Trade Agreement, the Mekong-Korea Cooperation, and the Regional Comprehensive Economic Partnership (RCEP) agreement.
“The two chambers of commerce are important bridges between the two countries’ business communities, as they can continue to cooperate in organizing trade and investment promotion events,” Heng said.
Korea is one of the largest investors in Cambodia, especially in areas such as banking, real estate and construction.
Heng invited the Korea Chamber of Commerce and Industry to pay business visits to Cambodia to seek to understand more about investment and business opportunities.
Seong said that the KCCI will continue good cooperation with the Cambodian Chamber of Commerce, citing that his chamber will make a visit to Cambodia at an appropriate time in early 2025.
The meeting between the two chambers was held when the CCC delegation accompanied Hun Sen, President of the Senate, to participate in the ‘25th World Knowledge Forum’ under the theme “Journey Towards Coexistence” from September 9-13.
South Korea is one of the largest investors in Cambodia, especially in areas such as banking, real estate and construction.
South Korea’s foreign direct investment (FDI) in Cambodia recorded $30 million last year, taking the total FDI from the country to $5 billion.
