PM Hun Manet gives six recommendations for the Ministry of Commerce to boost trade and market for Cambodian products
PM Hun Manet gives six recommendations for the Ministry of Commerce to boost trade and market for Cambodian products
Cambodian Prime Minister Hun Manet shared six recommendations for the Ministry of Commerce to promote the development of the trade sector and ensure that Cambodian products have access to suitable markets, both domestically and internationally.
The premier spoke on Friday (Dec. 13) at the opening ceremony of Cambodia Trade Expo 2024 under the theme A New Era of Trade on Friday (Dec. 13) in Phnom Penh.
The recommendations are as follows:
1. Continue to implement the approach ‘Strengthening Current Markets and Expanding to New Markets’ to ensure that Cambodian products can access both domestic and international markets by further deepening integration into the regional and global economy and exploring new markets with preferential tariffs through the negotiation of bilateral, regional, and multilateral trade agreements.
2. Promote the attraction of foreign direct investment in backward linkages to support the resilience of existing potential industries, especially as Cambodia prepares to graduate from least developed country status in 2029, ensuring smooth progress and sustainability.
3. Continue to participate in international trade and world exhibitions, and organise international exhibition events both domestically and internationally. In particular, export possibilities can be expanded through the Ministry of Commerce’s fostering export mechanism, further encouraging the private sector to join prominent international exhibition events in potential markets such as the European Union, the United Kingdom, and Australia. For domestic exhibition events, focus on targeted products by prioritising the matching of suppliers and buyers.
4. Continue to modernise exhibition-related work by utilising technology platforms to manage exhibition events and handle requests for exhibition permits from the private sector and public institutions in a timely and efficient manner.
5. Foster strategic development for a smooth and momentum transition from least developed country status by minimising negative impacts and proposing approaches and strategies to ensure sustainable development following Cambodia’s successful graduation in 2029, as well as to achieve Cambodia’s Vision 2050 of becoming a high-income country.
6. Contribute to achieving the Royal Government’s vision outlined in the Cambodia Digital Economy and Society Policy Framework 2021-2035 and the Cambodian Digital Government Policy 2022-2035 and for the purpose of ensuring economic efficiency and reduced trade costs and time consumption, the Ministry of Commerce must further foster digitalisation of public services at both national and sub-national levels, as well as to strengthen the capacity of digital officials through regular training and the promotion of digital leadership for management and officials to maximise the benefits of digital technology growth.
