Phnom Penh: H.E. Pich Rithi, Secretary of State at the Ministry of Commerce of Cambodia, hosted a meeting with Dr. Beh Swan Gin, the visiting Permanent Secretary of the Ministry of Trade and Industry of Singapore, on November 1.

According to Agence Kampuchea Presse, the meeting commenced with H.E. Secretary of State extending congratulations to Dr. Beh Swan Gin for his new appointment and lauding the robust bilateral relations between Cambodia and Singapore. Discussions primarily revolved around accelerating the negotiation of a Digital Economic Framework Agreement, aiming to create a conducive environment for trade, business, and investment to boost bilateral trade.

In a related development, during an official visit to Singapore on June 18-19, 2024, Cambodian Prime Minister Samdech Moha Borvor Thipadei Hun Manet and his Singaporean counterpart H.E. Lawrence Wong acknowledged Singapore’s significant investment in Cambodia and emphasized the complementary strengths of their economies. The Prime Ministers urg
ed both countries’ public and private sectors to identify potential areas for mutually beneficial cooperation, with an initial focus on food production and supplies.

The National Bank of Cambodia reports that from 2018 to 2023, Cambodia attracted foreign direct investment totaling US$48.4 billion, with Singapore ranking as the third largest investor, following China and South Korea.