Cambodia Highly Appreciates Trade Relations with Singapore

Minister of Commerce H.E. Pan Sorasak has spoken highly of the trade ties between Cambodia and Singapore, stressing that it is the result of good relationship and cooperation between the two governments.

H.E. Pan Sorasak, also Chair of the ASEAN Economic Ministers’ Meeting for 2022 made the remarks in his speech at the celebration of 57th National Day of the Republic of Singapore, held at Raffles Hotel Le Royal in Phnom Penh on Aug. 10 evening.

H.E. Minister recalled the close cooperation in all fields, especially in the trade sector, and the long-lasting friendship between the two countries.

The two-way trade was amounted to US$5.3 billion in 2021, a 51 percent increase compared to a year before. “In the first six months of 2022, trade volume reached US$2.1 billion, despite the COVID-19 crisis,” he pointed out.

Cambodia’s favourable business and investment environment, especially the incentives and flexibility provided by the new strategic framework and programmes for economic recovery in the new normal 2021-2023, as well as the newly promulgated investment law will attract more foreign investors, including those from Singapore, H.E. Pan Sorasak underlined.

Cambodia was one of the first countries to recognise Singapore’s independence in 1965.

 

Source: Agency Kampuchea Press