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Cambodia, Japan to strengthen economic ties

Cambodia and Japan will strengthen economic ties in a bid to boost trade and investments. This was decided at a business matching event held at the headquarters of the Japan External Trade Organization (JETRO) in Tokyo recently.

Sun Chanthol, Deputy Prime Minister and First Vice-Chairman of the Council for the Development of Cambodia (CDC), accompanied by Tuy Ry, Ambassador of Cambodia to Japan led the Cambodian delegation at the event on Wednesday.

At the meeting, the Deputy Prime Minister expressed his gratitude to “friends who organized a valuable matching programme on the occasion of the investment door-knocking mission of the CDC.”

The Deputy Prime Minister also emphasized that the enterprises that were participating in the meeting had also participated in the Cambodia Investment Seminar 2023, presided over by Prime Minister Hun Manet on December 19, 2023, in Tokyo.

The Deputy Prime Minister expressed strong hope that the Cambodian private sector will seize this golden opportunity to attract Japanese enterprises to invest in Cambodia.

Participants at the meeting included investors in the logistics, manufacturing, aluminium, agriculture, agro-industry, pharmaceutical and information technology and communications sectors.

It may be recalled that Japan is now the fifth biggest trading partner of Cambodia with bilateral trade (exports and imports together) reaching $507 million in the first three months of this year, an increase of 11 percent year-on-year.

Cambodia’s exports to Japan reached $365 million in the first quarter (Q1), an increase of 18.4 percent compared to the same period last year. The rising exports also ensured that Japan is now the fourth biggest export destination of Cambodia, accounting for 5.8 percent of the Kingdom’s export market.

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