The Cambodia Chamber of Commerce (CCC) and the Australian Embassy in Phnom Penh on Wednesday pledged to promote trade and investment between the two countries, with emphasis on increasing the Kingdom’s exports and attracting an influx of new investors.
The Cambodia Business Association is optimistic that the South Korean market will absorb more Cambodian products after a free trade agreement (FTA) is established, as officials from both countries prepare for the first round of negotiations next month.
The value of Cambodia’s total imports and exports of goods reached $11.160 billion in the first four months of this year, said a Ministry of Economy and Finance report.
Six ministries and state-run institutions have been integrated into a business registration system on an information technology platform that was launched on Monday by government representatives.
Bilateral trade between Cambodia and Thailand was worth about $3.1 billion in the first four months of the year, up 18.3 per cent over the same period last year, data from the Cambodian Embassy in Bangkok show.
Cambodia's Minister of Commerce Pan Sorasak has requested help from China’s largest technology company, Huawei Technologies Co Ltd, in boosting e-commerce and online trading to contribute to the government’s goal of transforming to a digital economy.
The Cambodia-China Free Trade Agreement (FTA), which is expected to be finalised by the end of the year will boost the Kingdom’s export volume and also draw more investment in raw material supplies and diversify the industrial sector, analysts say.
Provincial governor Kuoch Chamroeun visited the fruit processing plant recently and expressed his support council of ministers
The government will upgrade the Thma Da checkpoint in Pursat province into an international border to facilitate cross border trade with Thailand, a move expected to achieve $15 billion in trade between the two ASEAN neighbours.
The Cambodia-China Intergovernmental Coordination Committee will meet on June 16 to discuss the free trade agreement (FTA) between the two countries and generate ideas about how to restore the Cambodian economy once the Covid-19 pandemic has abated.