This year’s edition of the prestigious India-CLMV Business Conclave will take place in Cambodia during the month of May.
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The event, which seeks to tighten business ties between India and CLMV countries (Cambodia, Laos, Myanmar and Vietnam), is scheduled for May 21 and 22, and will be taking place at Sokha Hotel.
It will be the fifth edition of the business gathering, but the first one to be hosted in Cambodia.
Apart from promoting new business partnerships, the forum aims to provide a platform for decision makers in CLMV countries to interact with Indian companies involved in trading, manufacturing, processing, engineering, consultancy and construction, according to event organisers.
Ministry of Commerce spokesman Long Kem Vichet told Khmer Times the event will attract business leaders from India and CLMV countries who want to expand their networks and explore partnerships abroad.
There will also be talks between high-ranking officials from each participating nation, with the event serving as a venue to discuss trade relations.
“We expect several things to come out of this event,” said Mr Kem Vichet. “First, we are hoping for new joint ventures between Cambodian companies and companies from neighbouring countries and India.
“Second, we expect government-level talks on a trade agreement with India,” he said.
Ngoun Meng Tech, director-general of the Cambodia Chamber of Commerce, said the gathering is key for the local business sector, as it gives Cambodian companies an opportunity to benefit from India’s expertise in information technology.
“India is a powerhouse in IT,” he said. “We welcome any investment from India in IT, or any partnerships between Indian and Cambodian companies in the sector.
“India can help us train our entrepreneurs in the IT sector. This will help us develop our e-commerce capabilities.”
Monika Jain, the newly appointed Indian ambassador to Cambodia, said during her meeting with Deputy Prime Minister Bin Chhin in February that relations between both nations continue to improve, particularly in trade, agriculture and education.
Both officials vowed to work together to enhance trade and investment between the two countries.
“Our trade relation still has room for improvement. We urge the Cambodia Chamber of Commerce to seek closer trade ties with India,” Ms Jain said.
Last year, the India-CLMV Business Conclave was held in Jaipur, India.