COA, Indian Embassy seek to promote trade, investment

COA, Indian Embassy seek to promote trade, investment

The Cambodia Oknha Association (COA) and the Indian Embassy in Cambodia recently exchanged views on promoting trade and investment between Cambodia and India.

COA Secretary General Hun Lak and Indian Ambassador to Cambodia Devyani Khobragade attended the talks held at the embassy in Phnom Penh.

“The meeting discussed a plan of action to promote trade and investment activities between the private sectors of Cambodia and India and take the economic ties between the two countries to another level,” the COA said in a statement.

Both sides also discussed the establishment of a communication mechanism between the COA Secretariat, Federation of Indian Chambers of Commerce and Industry (FICCI) and the newly established India-Cambodia Joint Business Council for exchanging and sharing important business information related to trade and investment between the two countries.

They also identified a number of specific sectors that both parties are interested in for investment opportunities as well as joint ventures.

The meeting came after COA and FICCI announced the inauguration of the India-Cambodia Joint Business Council which held its first meeting on February 23 in New Delhi, India.

A report from the General Department of Customs and Excise (GDCE) showed that bilateral trade between the Kingdom and India has seen steady growth, reaching nearly $485 million in 2023, marking a 10 percent increase from 2022.

Data from the Ministry of Tourism indicated that Cambodia welcomed 68,836 Indian guests last year, a surge of more than 102 percent from 34,016 a year before. khmertimeskh

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