Trade and investment cooperation between Cambodia and Mexico are expected to increase after a business forum which is planned to be organized in Phnom Penh soon.
The remarks were made during a meeting on Monday between Kith Meng, President of the Cambodia Chamber of Commerce and Liliana Ferrer, Ambassador of Mexico to Cambodia. Both discussed the existing business ties and promoting trade and investment between the two countries.
Meng said Mexico and Cambodia have had diplomatic relations for a long time, but bilateral trade and economic ties have not been explored adequately.
He sought cooperation from the Mexican ambassador to organize joint business events between the two countries to attract Mexican investors to invest in Cambodia.
“The Cambodian economy has a wide range of potential and markets where Mexican investors can invest in establishing factories in Cambodia and export products to ASEAN markets and RCEP countries,” Meng said.
He also asked the Mexican ambassador to consider and push the establishment of a Mexican trade liaison in Cambodia that can work directly to connect with Cambodian businesses and work towards promoting trade and investment.
The Mexican ambassador voiced support for the CCC president’s proposal, citing that business events to be held in the coming months in Cambodia will promote the potential and products of Mexico, as well as opportunities in various sectors, especially agriculture, automotive, electronics and tourism.
Bilateral trade between Mexico and Cambodia reached $355 million last year, an increase of 9.07 percent compared to $322 million in 2022.
Luis Enrique Vertiz, Chargé d’Affaires of the Embassy of Mexico in Malaysia, said in March that the trade amount is likely to reach $400 million by the end of this year as Cambodia keeps on increasing trade and exporting products to Mexico.
The main products that Cambodia exports to Mexico are trunks and cases, non-knit women’s suits, and knit sweaters and imported from Mexico are delivery trucks and cars.(khmertimeskh)
