PHNOM PENH: Cambodia and U.K discussed trade and investment cooperation and the former encouraged the latter to consider investing in the processing of agricultural products, food, and agro-industry.
The discussion took place on Jan. 25 during a courtesy meeting between H.E. Pan Sorasak, Minister of Commerce, and H.E. Dominic Williams, newly appointed British Ambassador to Cambodia, at the ministry.
The minister congratulated the ambassador on his role and thanked the U.K. for its support, especially on trade, health, education, financial management, infrastructure development, and COVID-19 containment in Cambodia.
He also expressed his appreciation of the U.K.’s new preferential tariff system for developing countries, including Cambodia, contributing positively to Cambodia’s export and employment, and encouraged U.K. more trade and investment in agricultural products, food, and agro-industry in Cambodia.
H.E. Dominic Williams reaffirmed U.K. commitment to strengthen bilateral cooperation, including through trade and investment.
The UK is an important market for Cambodia and the two-way trade volume reached US$1 billion in 2022, an increase of about 24 percent compared to US$786 million in 2021.
The main exports from Cambodia to the U.K. include garments, footwear, bicycles, and agricultural products while the key imports from the U.K. to Cambodia are machinery, pharmaceuticals, and beverages.
Source: AKP