A delegation of Cambodian firms is en route to New Delhi to attend Logix India, a trade fair where they hope to expand their networks in the world’s fastest-growing major economy.
Logix India 2019, which kicked off yesterday, serves as a platform to attract Indian investors to Cambodia’s logistics sector, said Sin Chanthy, president of the Cambodia Freight Forwarders Association (CAMFFA).
Mr Chanthy said the Cambodian contingent in New Delhi will showcase Cambodia’s logistics potential to the world.
“We will promote our country to the world, and encourage investors in India and other countries to consider Cambodia as an investment destination,” he said, adding that they will also push for a direct flight between India and Cambodia.
He said Cambodia’s agriculture sector is an attractive industry for foreign investors and explained that, while in New Delhi, the delegation hopes to learn about the demands of India agriculture firms.
“We will sign agreements and memorandums of understanding and we will meet the buyers and sellers from India and other countries.
“Fortunately, India is very interested in Cambodia,” Mr Chanthy added.
Logix India was created to improve India’s cost-effectiveness and operational efficiency in global trade, as well as promote investment opportunities in infrastructure development, warehouse consolidation, technology integration, and staff training.
This year the expo will focus on the markets that present the most challenges to Indian firms and where better logistics can have a great impact on trade, according to the organiser.
The Indian logistics sector is projected to reach $360 billion in value by 2032 from the current $115 billion. This growth will be enabled by the increasing globalisation of the Indian economy, coupled with renewed manufacturing vigour and the growth of e-commerce, according to the Indian government.
Last October, Cambodia launched its national master plan to guide logistics infrastructure development. Detailing a number of short, medium and long-term projects, the strategy is believed to be pivotal in slashing costs and ramping up efficiency in transportation.
Cambodia expects to roll out $19 billion worth of projects outlined in the logistics master plan in the next seven years as it hopes to become a warehouse and logistics hub serving the Greater Mekong Subregion.
Logix India 2019 – organized by the Federation of Indian Export Organisation and the Ministry of Commerce and Industry of India – is being held from Jan 31 to Feb 3 in New Delhi.