Phnom Penh:Cambodia and Vietnam have significant opportunities to enhance economic cooperation and engagement with the Francophone Community, particularly in agriculture, regional supply chains, and emerging economic sectors, according to Vietnamese Ambassador to Cambodia H.E. Nguyen Minh Vu.
According to Agence Kampuchea Presse, Ambassador Nguyen Minh Vu highlighted that the Francophone world, with its 1.2 billion people, represents 16 percent of global GDP and 20 percent of global trade. This presents substantial opportunities for Cambodia and Vietnam to expand trade, investment, and economic partnerships across various continents.
The Ambassador pointed out that as leading exporters of rice and agricultural products, both countries are strategically positioned to engage with Francophone nations, especially in Africa, through agricultural cooperation and partnerships. This collaboration could leverage their comparative advantages in agriculture to promote economic benefits, poverty reduction, and food security within the Francophone regions.
Beyond agriculture, Nguyen Minh Vu identified other sectors such as the digital economy, green transition, renewable energy, high-tech agriculture, sustainable tourism, and innovation as areas with potential for cooperation. He emphasized that working together in these fields could help address development needs and promote shared prosperity among participating countries.
The Ambassador stressed the importance of supporting the International Organisation of La Francophonie (OIF) in implementing economic cooperation strategies and projects. He noted that Francophone economic missions could be instrumental in connecting businesses, investors, and stakeholders to explore markets and establish partnerships, thereby enhancing trade and investment.
Furthermore, Nguyen Minh Vu underscored the necessity of promoting the French language and expanding French-language education in both countries. He described French as a critical tool for business, knowledge-sharing, and entrepreneurship, which could enable businesses and professionals in Cambodia and Vietnam to engage more effectively with Francophone markets.
The OIF, which Cambodia and Vietnam are full members of, currently includes 90 member states and governments, encompassing 53 full members, five associate members, and 32 observers.