Cambodia and Indonesia are set to jointly organise a trade exhibition to be held in Siem Reap province next month, an event to mark the 60th anniversary of diplomatic relations between the two countries as well as an effort to boost bilateral trade and investment.
For in depth analysis of Cambodian Business, visit Capital Cambodia
Seang Thay, a spokesman for the Ministry of Commerce, yesterday said that the trade exhibition is set to be held in front of the Royal Palace, along the Siem Reap river bank, on July 19 to 21. The event will boast over 100 booths of more than 100 companies from both countries, showcasing locally-made products as well as providing an opportunity for business matching, he added.
Mr Thay said that the event seeks to inspire creativity, encourage Cambodian craftsmen and producers to create new products and services to serve domestic and overseas markets, as well as promoting local products such as souvenirs, Khmer silk, kitchenware, crafts, food and beverages. At the event, stakeholders will be able to learn about packaging, processing, branding, production and compliance with market requirements, he added.
“Actually, Indonesia holds a trade exhibition in our country once a year, but this time, we will jointly organise the event because we want to celebrate our 60th diplomatic anniversary,” Mr Thay said. “There will also be cooperation between other ministries of our two countries to boost economic relations, especially trade, investment and tourism.”
Indonesian low-cost carrier Citilink touched down at Phnom Penh International Airport last Friday afternoon, marking a new milestone in connecting Cambodia and Indonesia for the first time since 1969, when the two countries first signed an air service agreement.
The service is expected to boost air traffic between the two countries by offering direct flights that reduce travel time and increase travel options. The launch of the new route also coincided with the 60th anniversary of Indonesian-Cambodian diplomatic relations.
Mr Thay hopes that the upcoming joint exhibition event will provide another boost for tourism, as well as trade and investment opportunities between the two countries to another level following the newly-launched direct flights.
“Now, we have direct flights, so we will see more and more flow of tourist, trade exchange and investment from Indonesia to our country, especially milled rice and other agricultural products,” he said.
Bilateral trade between Cambodia and Indonesia rose moderately last year, reaching $556 million in value, or a four percent increase.
Although trade with Asean’s largest economy is still relatively small, trade officials see great potential in economic relations between the countries.
Cambodian exports to the island nation last year rose to $33 million, or a 29 percent increase. Indonesian exports to the Kingdom, by contrast, increased only by two percent and were valued at $525 million.
Last year, more than 55,700 Indonesians visited Cambodia while just over 8,800 Cambodians travelled to the island nation.