5th India-CLMV Business Conclave Ends Successfully

The 5th India-CLMV Business Conclave, held in Phnom Penh on May 21-22, was wrapped up successfully yesterday in an intimate atmosphere, good cooperation and satisfying outcomes, said the Cambodian Ministry of Commerce in a news release.

On the occasion, H.E. Pan Sorasak, Minister of Commerce of Cambodia, briefed the meeting on the outcomes of the two-day meeting and the way forward for an effective cooperation between Cambodia, Laos, Myanmar and Vietnam (CLMV) and India so as to boost the economic growth in the five nations.

H.E. Minister laid stress on the importance of private sector in economic development, saying that private sector has contributed significantly to ensuring sustainable growth in areas of manufacturing, agriculture, agro-industry, health, education, skill and human resource development, real estate and tourism.

For future cooperation plans, H.E. Pan Sorasak suggested the creation of intersection area for regional value chain, the exchange of good practices in agricultural development as India and the CLMV countries have high potential in this sector. He asked the government and private sector of the five countries to consider using PPP (Public Private Partnership) form and studying goods production under Made in I-CLMV logo for regional and global markets.

Regarding tourism and hospitality domain, H.E. Pan Sorasak requested direct flight from India to the CLMV countries, capacity strengthening and cultural exchange as well as product fairs.

Investments in the fields of health, IT and finance were also raised by H.E. Minister.

Taking the opportunity, H.E. Pan Sorasak thanked Ministry of Commerce and Industry of India and Confederation of Indian Industry (CII) for their good collaboration with the Ministry of Commerce in organising the 5th India-CLMV Business Conclave, hoping that the five countries will continue their traditional cooperation in the next forum.

Source: Agency Kampuchea Press