PHNOM PENH: Cambodia and Australia launched a new Food Innovation Partnership to support Cambodia's agri-food small and medium-sized enterprises (SMEs) in developing new products, meeting food safety standards, and improving their market reach.

Launched here last Friday, the partnership is funded by the Royal Government of Cambodia through Khmer Enterprise, and the Australian Government through the Cambodia Australia Partnership for Resilient Economic Development (CAPRED).

This initiative will also collaborate with the Institute of Technology of Cambodia, the Royal University of Agriculture, the National University of Battambang, and the Kampong Speu Institute of Technology, according to a joint press release.

The partnership focuses on the Food Innovation Fund: Providing financial support to SMEs to develop new products, improve their market reach, or meet food safety standards, and the Food Innovation Service Sector: Assisting SMEs in accessing food and technology services such as food processing, technology, market information, branding and packaging.

It also targets the Agri-Food Innovation Summit: Bringing together SMEs, researchers, and other stakeholders to share knowledge and ideas about food innovation.

“Australia is committed to supporting the development of a vibrant agri-food sector that contributes to resilient, inclusive, and sustainable economic growth in Cambodia,” said H.E Justin Whyatt, Australian Ambassador to Cambodia.

“In line with Khmer Enterprise's vision and mission to expand the market potential for SMEs both locally and internationally, this fund will help to level the playing field for Cambodian SMEs and give them the resources they need to succeed,” said H.E. Dr. Chhieng Vanmunin, Khmer Enterprise's CEO.