PHNOM PENH: France has committed to encouraging more investment in Cambodia in civil construction and transportation, including high-speed rail and autonomous ports, as trade between the two countries approaches 500 million US dollars. In 2022, the figure is expected to be around 16% increased.
Olivier Becht, minister delegate for foreign trade, economic attractiveness, and French nationals abroad speaking at a press conference on the evening of January 25 at the French Embassy in Cambodia, praised Cambodia’s remarkable economic growth.
He promised to bring more investment in Cambodia and hoped that the two sides would maintain good dialogue as development partners at both bilateral and regional levels, particularly by actively participating in strengthening ties between ASEAN and Europe.
He also mentioned French investors’ interest in investing in key infrastructures in Cambodia, particularly in civil construction and transportation, such as high-speed rail and autonomous ports.
His Excellency Pan Sorasak, Cambodian Minister of Commerce, led a Cambodian delegation to discuss trade facilitation progress and Cambodia’s trade priorities, including integrating its economy into regional and global economies and diversifying export markets, rehabilitating and strengthening the economy following the global Covid-19 pandemic crisis.
The minister requested that the French side consider attracting more investment in Cambodia and increasing trade volume through the use of the benefits of Cambodia’s free trade agreements, particularly the Regional Comprehensive Economic Partnership (RCEP) and bilateral agreements with China and South Korea.
France is one of Cambodia’s most important trading partners in the European Union. The two sides reached a trading volume of approximately $500 million in 2022, an increase of 16.31% over the total of $430 million in 2021.
Rice, agricultural products, clothing and footwear, and other products from Cambodia could be exported to France. Potential French imports to Cambodia include medicine, boards, and beverages.