Indonesia strengthens ties with Cambodia through trade and investment initiatives

PHNOM PENH: Cambodian business leaders welcomed increased engagement with , as evidenced by a recent meeting between Duke Lim Heng, Vice President of the Cambodian Chamber of Commerce, and . On January 29, 2024, they discussed ways to enhance bilateral cooperation in agriculture and investment.

Ambassador Darmosumarto expressed Indonesia's commitment to boosting trade in agricultural products and direct investment in Cambodia. He highlighted key projects and upcoming events, including health product exhibitions in Phnom Penh and Sihanoukville; a general trade exhibition in the coming months; and a major trade fair and business forum in Jakarta, Indonesia, in October.

He sought the Cambodian Chamber of Commerce's support in encouraging Cambodian businesses to participate in these events, aiming to solidify economic ties between the two nations.

Duke Lim Heng responded warmly, acknowledging the events' potential to spur trade and investment growth. The discussion also explored broader cooperation, with both sides acknowledging the potential and investment opportunities in various Cambodian provinces.

Duke Lim Heng extended an invitation for the Ambassador to visit each province firsthand, gaining deeper insights into Cambodia's business landscape.

This meeting reflects the strengthening relationship between Indonesia and Cambodia. Indonesia already ranks as the sixth largest foreign investor in Cambodia, contributing to a two-way trade volume exceeding US$948 million in 2022.

Notably, Cambodian exports to Indonesia saw a remarkable 112% surge in 2023, reaching $70.56 million. With continued collaboration and initiatives like those proposed by Ambassador Darmosumarto, these positive trends are expected to continue.

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