Cambodia, Singapore Reaffirm Bilateral Trade and Investment Cooperation

Cambodia and Singapore have reaffirmed to further strengthen their bilateral trade and investment cooperation.

The commitment was made by H.E. Pan Sorasak, Minister of Commerce of Cambodia, and H.E. Gan Kim Yong, Minister for Trade and Industry of Singapore, during their bilateral meeting via videoconference on 7 September 2021.

The meeting focused on the strengthening of trade and investment ties between the two countries, the progress of the ratification of Regional Comprehensive Economic Partnership (RCEP) Agreement between ASEAN and its Member States, especially the readiness of Cambodia to be the Chair of ASEAN in 2022 and to host related meetings.

Singapore voiced its full support and will provide close cooperation for Cambodia for the success of its ASEAN chairmanship next year and the hosting of ASEAN Economic Ministers’ Meeting and related meetings under the pillar of ASEAN Economic Community.

H.E. Pan Sorasak laid stress on the bilateral trade and investment between Cambodia and Singapore and suggested the cooperation areas that both sides should focus on in socio-economic recovery such as ensuring continued flow of goods, promoting business matching, strengthening e-commerce sector, building regional supply chain and increasing investment of Singapore in Cambodia.

H.E. Pan Sorasak, also ASEAN Economic Minister for Cambodia, informed his Singaporean counterpart about the progress of Cambodia’s preparations for the chairmanship of ASEAN in 2022, especially under the pillar of ASEAN Economic Community, including the compilation of key documents on main economic achievements and so on.

The minister also updated H.E. Gan Kim Yong on the ratification process of RCEP Agreement scheduled to enter into force in early 2022 so that we can gain benefit from the agreement amid the socio-economic recovery efforts. (Source: AKP Phnom Penh, September 08, 2021)