Cambodia, Indonesia agree to boost trade ties

Pormoniroth complimented the Ambassador for Indonesia’s contribution to easing the conflict in Cambodia. He also appreciated Indonesia for its exemplary performance as the host of ASEAN 2023.
 
Ambassador Santo returned the gesture by crediting the Kingdom’s success as the chair of the previous edition of the summit which came on the heels of the Covid-19 pandemic.

“There is still ample room for cooperation that must be developed and strengthened by taking advantage of the close historical ties between the two countries. We should strive to translate historical ties into trade, investment, tourism cooperation and socio-cultural ties between the two countries,” said Ambassador Santo.

To solidify the economic ties between Cambodia and Indonesia, the balance of trade is of critical importance felt Ambassador Santo. He added that the business community in Indonesia is largely in the dark about the huge potential of Cambodia. More fluid payment systems and an uptick in the frequency of direct flights between the leading tourist destinations in the two countries were of paramount importance in cementing economic relations for both businessmen and tourists.

“Diplomacy between the two countries is moving forward and likely to be centred on the shared goal of increased economic and trade relations,” said Kevin Nauen, Dean of Faculty of Social Sciences and International Relations, Pannasastra University. In support of ASEAN centrality, both chairmanships focused on upholding ASEAN’s role as a neutral platform for regional dialogue and cooperation, particularly amidst growing external pressure, he added.

“I hope that bilateral relations in the field of trade will also spread to other economic sectors such as investment. It is hoped that there will be an increase in Indonesian outbound investment to Cambodia considering that there are various incentives and economic agreements between Cambodia and various countries and regions that can be utilized by Indonesian businesses,” said Lauti Nia Astri, Minister Counselor, Embassy of the Republic of Indonesia.

Source:The Khmer Times