Cambodia and Australia have agreed to set up an additional mechanism – Cambodia-Australia Business Council – to coordinate and promote their bilateral trade and investment activities.
The agreement was made in a meeting in Melbourne on Mar. 4 between Samdech Moha Borvor Thipadei Hun Manet, Prime Minister of Cambodia, and Mr. Bran Black, CEO of Business Council of Australia, on the sidelines of the ASEAN-Australia Special Summit to commemorate the 50th Anniversary of ASEAN-Australia Dialogue Relations.
Samdech Thipadei Hun Manet encouraged the Business Council of Australia to continue to work with the Cambodian Ministry of Commerce as well as the Cambodian Chamber of Commerce on the establishment of this mechanism.
Mr. Bran Black told Samdech Thipadei that the Business Council of Australia represents more than 120 major Australian private companies, providing more than 1 million jobs. The CEO expressed his intention to expand cooperation with Cambodia to further strengthen and expand the bilateral business
and trade relations.
The Cambodian Premier welcomed the intention, reaffirming that the Royal Government of Cambodia (RGC) is open to all investments and acts as a bridge to facilitate and ensure a favourable investment climate in the Kingdom.
Samdech Thipadei Hun Manet also underlined Cambodia’s new investment policy and law, which encourages the private sector to invest in Cambodia while the country has been engaging in regional and global cooperation through free trade agreements, at both bilateral and multilateral levels.
The Prime Minister added that the RGC pays close attention to and encourages investment in digital technology, electrical and automotive components, as well as agriculture and tourism, to boost the country’s economic growth.
Source: Agence Kampuchea Presse