Cambodia mulls bilateral trade, investment pact with India

22 Apr '22

1 min read

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Cambodia’s commerce ministry is mulling over boosting trade and investment with India through a bilateral trade deal. India is one of the big markets for its products and attracting investment and the two countries are finalising working group studies on the possibility of a free trade pact, the ministry’s undersecretary of state Penn Sovicheat recently said.

“Getting India market is to diversify the market, over the existing FTA markets that we have with China, Korea and RCEP,” he said.

In January-November last year, bilateral trade between the two countries amounted to $274.2 million, up by 57.2 per cent year on year (YoY) from $174.3 million. Cambodian exports to India were valued at $113.8 million in the first 11 months of 2021, a 99 per cent YoY surge from $57 million.

“Although at low, the bilateral trade has increased steadily yearly. Meaning that our relations become closer in both trade and economic cooperation,” Sovicheat was quoted as saying by a Cambodian English-language daily.

A high-level delegation of the lower house of the Indian parliament led by speaker Om Birla is in Cambodia on a four-day official visit starting April 21.

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