Cambodia and Canada have reaffirmed their commitment to strengthening economic cooperation, as senior officials from both countries met in Phnom Penh to explore new avenues for expanding trade and investment partnerships.
The commitment was reaffirmed during a meeting between Minister of Commerce Cham Nimul and Sara Wilshaw, Canada’s Chief Trade Commissioner and Assistant Deputy Minister of International Business Development. The meeting took place on the evening of Wednesday at the Hyatt Regency Hotel in Phnom Penh.
It provided an opportunity to discuss and exchange views on enhancing trade relations between Cambodia and Canada. Both sides expressed a shared interest in fostering closer economic collaboration through the exchange of business missions and the promotion of trade and investment opportunities.
Discussions also included progress on the Asean-Canada Free Trade Agreement, with both parties reaffirming their support for a rules-based multilateral trading system as a foundation for sustainable and inclusive economic growth.
The visit reflects ongoing efforts to strengthen bilateral relations and deepen engagement between the two countries in key areas of trade and international business development.
Earlier, on the same day, also at the Hyatt Regency Hotel, Minister Cham Nimul welcomed Dominic Jacques, Deputy Vice-President of International Development at the National Bank of Canada and representative of the Canada-Asean Business Council, for a courtesy call and business discussions.
During the meeting, both sides exchanged views on enhancing cooperation to further promote Cambodian-Canadian business ties.
Discussions included opportunities for business matching and the potential establishment of a private business centre in Canada to support Cambodian enterprises.
Minister Nimul also highlighted Cambodia’s ongoing efforts to facilitate and improve the business and investment climate. She encouraged Canadian investors to continue exploring opportunities in Cambodia, emphasising the country’s strong potential as a regional hub for expanding business networks.
Trade and investment ties between Cambodia and Canada are gaining momentum, with experts pointing to strong potential for deeper economic cooperation.
Economist Darin Duch told Khmer Times that bilateral merchandise trade reached $2.4 billion in 2024, with Canada ranking as the fourth-largest market for Cambodia’s garments and textiles.
Cambodian exports exceeded $2.3 billion, while imports from Canada totaled $33.5 million. Canadian direct investment also reached approximately $2.9 billion, reflecting growing confidence in Cambodia’s economy.
“Cambodia should continue to clearly showcase its determination by creating incentive mechanisms to attract more Canadian investors, while also promoting greater access for Cambodian products in the Canadian market,” Darin said.
He stressed the importance of diversifying export destinations and strengthening investment ties.
“Canada has strong market potential, with exports increasing almost every year,” he added.
He also noted the role of the Canadian Commercial Corporation’s local office in promoting Cambodian goods and drawing investment.
Looking ahead, Darin said, “I am optimistic that through the efforts of both the government and private sector, exports from Cambodia to Canada will likely continue to grow further.”
Analysts agree, suggesting opportunities beyond textiles, including in agriculture, light manufacturing, and technology, could further support Cambodia’s long-term economic development.
