Phnom Penh (FN), Jul. 11 – Neak oknha Kith Meng, president of the Cambodian Chamber of Commerce, requested the Australian Government to establish an Australian Trade office (AusTrade) in Cambodia to strengthen and expand bilateral ties.
The proposal was made during a meeting between the Cambodian private sector and Australia's special envoy for Southeast Asia Nicolas Moore at the Australian ambassador's residence on 10 July 2023.
The event was also attended by senior Australian officials, members of the Cambodian Chamber of Commerce, representatives of the International Chamber of Commerce, business associations and more than 80 Cambodian private companies.
The gathering was held on the occasion of Nicolas Moore’s visit to Cambodia to strengthen ties with the Cambodian private sector to promote trade and investment between Cambodia and Australia.
Speaking on the occasion, neak oknha Kith Meng warmly welcomed Nicolas Moore and highlighted the excellent relations between Cambodia and Australia, which have had diplomatic ties since 1952. Australia supported the peace process in Cambodia during the 1980s and 1990s, contributing to the building of Cambodia's current stability.
Meng expresses enthusiasm over the Australian government's 2040 Southeast Asian Economic Women's Strategy to identify emerging trade and investment opportunities and make ASEAN a place for future business with rapid economic growth and a world population of over 660 million as well as a gross national product of USD 3.66 trillion.
The president of the Cambodian Chamber of Commerce underscored that trade and investment between Cambodia and Australia continue to grow and benefit from the ASEAN-Australia-New Zealand Free Trade Agreement and the Regional Economic Partnership Agreement. Cambodia is one of the fastest growing economies in the region, with economic growth projected at 5.6% in 2023. Many Australian companies are currently doing business in Cambodia.
In addition, Meng expressed his support for trade and investment between the two countries on all sectors, especially agriculture, health, resources and education. In this regard, the Cambodian Chamber of Commerce will organize a business visit to Australia and welcome the Australian business delegation to visit Cambodia.
Bilateral trade volume between Cambodia and Australia reached more than USD 546 million in 2022, an increase of 65 per cent compared to 2021.
=FRESH NEWS
