Phnom Penh:Cambodia and the European Union (EU) have reaffirmed their commitment to strengthening investment and trade cooperation. The focus is on improving the business environment, enhancing logistics connectivity, and attracting more European investors to the Kingdom.
According to Agence Kampuchea Presse, this commitment was underscored during the 5th Cambodia-Europe Public and Private Sector Dialogue. The event was co-chaired by Deputy Prime Minister H.E. Sun Chanthol, First Vice Chairman of the Council for the Development of Cambodia (CDC), and EU Ambassador to Cambodia H.E. Igor Driesmans.
The meeting brought together CDC officials, representatives of relevant ministries and institutions, the leadership and members of the European Chamber of Commerce in Cambodia (EuroCham), and other private sector representatives. In his opening remarks, H.E. Sun Chanthol emphasized the government's achievements and strategic priorities in improving the investment climate. He stressed the importance of public-private cooperation in promoting Cambodia as an attractive investment destination.
H.E. Sun Chanthol also highlighted progress in logistics cooperation between Cambodia and Europe, noting improved supply chains and trade connectivity as crucial for enhancing efficiency and competitiveness. Despite global economic uncertainties, he reaffirmed Cambodia's commitment to attracting foreign direct investment (FDI) by maintaining a favorable and predictable investment environment.
Furthermore, the Deputy Prime Minister updated participants on the expansion of the deep-sea port in Sihanoukville. The first phase of the expansion is scheduled for completion in mid-2027 and is expected to reduce maritime transport costs by approximately 30 percent, boosting Cambodia's international trade competitiveness.
EU Ambassador H.E. Igor Driesmans expressed support for Cambodia's efforts to improve the investment environment. He praised the Cambodia-Europe dialogue as an effective platform for addressing business challenges and strengthening cooperation between government institutions and European companies. He also welcomed the CDC's plan to organize an investment roadshow across EU countries, expressing the EU's readiness to support the initiative.
The dialogue also celebrated the 25th anniversary of the EU's Everything But Arms (EBA) initiative, which has significantly contributed to Cambodia's economic growth. Ambassador Driesmans expressed optimism about future cooperation, particularly in preparing for Cambodia's transition towards the Generalised Scheme of Preferences Plus (GSP+), which could enhance export potential and attract sustainable European investment.
During the dialogue, both sides reviewed achievements from previous sessions, exchanged views on ongoing initiatives, and discussed action plans to address challenges and advance cooperation. European business representatives appreciated the Royal Government's attention to their concerns, noting the effective coordination by the CDC and relevant ministries. They also acknowledged the government's willingness to engage in open discussions and address private sector challenges.