Cambodia urges India to explore bilateral trade agreement to further boost trade ties

Cambodia urges India to explore bilateral trade agreement to further boost trade ties

A senior official at the Ministry of Commerce (MoC) has urged India to further explore the potential in Cambodian market by establishing a negotiating team to arrive at a bilateral preferential trade agreement for the benefit of both countries.

Penn Sovicheat, Secretary of State and spokesperson of the Ministry of Commerce (MoC), made the call as he delivered his speech at the Global Business Summit organised by the Indian Chamber of Commerce in Mumbai, India, on Friday, according to a MoC statement released on Saturday.

In his remarks, the senior official highlighted the existing strong bilateral cooperation between Cambodia and India. “The two sides have established trade mechanisms, including a joint trade working group to review and negotiate relevant work to promote bilateral trade growth alongside an Asean-India mechanism that will be upgraded to a more modern level.”

According to the MoC, the event featured a series of important meetings and discussions. “These included topics on regional and Indian laws, regulations for business and investment in the context of global market challenges, cross-border business compliance requiring trade facilitation and specific cooperation frameworks, as well as the role of technology and Artificial Intelligence in business.”

The meeting also allowed and encouraged the participating business representatives to find and connect with their potential business partners.

Sovicheat also participated in various relevant meetings at the summit, which was attended by government representatives, embassies, and international business representatives from more than 20 countries.

khmertimeskh