The Ministry of Commerce has urged entrepreneurs from Belarus to consider investments in different sectors in the Kingdom.
During a summit last week between Cambodia and Belarus to discuss trade and economic cooperation, the Cambodian ministry said Belarusian investors should consider building bus assembly facilities and tyre factories in Cambodia.
Ministry representatives said Cambodia can produce up to 300,000 tonnes of rubber per year that can be used in the manufacturing of tyres.
Gennady Svidersky, Belarus’s first deputy industry minister, said the government of Belarus will continue to promote investments in Cambodia’s agriculture, industry, health, and technology sectors to create jobs and contribute to national development.
“We will work on knowledge transfers with modern technology to alleviate the skills gap. This will support light and heavy industry development in Cambodia,” he was quoted as saying in a statement from the Ministry of Commerce.
Men Sopheak, secretary-general of the Association for Rubber Development, welcomed the ministry’s efforts to promote investment in the industry.
“If these investments materialise, it will help stabilise prices, increase value in the industry and create jobs,” he told Khmer Times yesterday.
From January to June, the Kingdom’s rubber exports were valued at $139 million. It shipped 104,261 tonnes of the commodity, a 24 percent increase compared to the same period last year. A tonne of rubber sold, on average, for $1,339.
Last week, the Cambodian Ministry of Agriculture and Belarus agreed to create a mechanism that will enable exports of Cambodia rubber to Belarus.
According to the Ministry of Commerce, the two countries also agreed to boost trade and economic cooperation that will enable Belarus to export machinery, tyres, and medical supplies to Cambodia.
Cambodia, on the other hand, will be able to ship rubber, agricultural products, and seafood to the Eastern European country.
The countries also agreed to cooperate to boost the development of certain sectors in Cambodia, including the tourism industry.
Commerce Minister Pan Sorasak said cooperation between the two countries will promote job creation in Cambodia.
“The third session of the joint committee on trade and economic cooperation between Cambodia and the Republic of Belarus will increase bilateral trade and enhance economic cooperation between the countries,” the minister said.