PHNOM PENH: On May 26, Cambodia’s Minister of Commerce, H.E. Pan Sosak, and the UK Ambassador, H.E. Dominic Williams, signed an MoU to establish the Cambodia-UK Joint Trade and Investment Forum.
The forum’s opening ceremony was attended by around 40 people, including representatives from various relevant institutions and the Cambodian-British Chamber of Commerce.
The Minister of Commerce expressed his enthusiasm towards the positive impact it will have on Cambodia-UK trade cooperation.
The first forum will address the current economic policies of both governments, with a focus on preferential tariffs for developing countries (DCTS) and Cambodia’s new investment law for promoting national economic diversification and green growth.
The forum also included a trade policy meeting between representatives of the Royal Government of Cambodia, the British Chamber of Commerce in Cambodia, the representative of the Royal Government of the United Kingdom, and the Cambodian Chamber of Commerce.
Their aim was to update each other on trade policy and seek new opportunities to improve trade, goods, services, and investment between both countries.
The United Kingdom has been a significant trading partner with Cambodia, with the 2022 trade volume predicted to reach $977.43 million, a growth of 24.42% compared to 2021 as per the Customs and Excise Department of Cambodia.