Cambodia Investment Review
The British Embassy in Phnom Penh has commemorated His Majesty King Charles III’s Coronation and Birthday in Phnom Penh. The event further solidified the UK-Cambodia relationship, bringing together over 300 distinguished guests from various sectors, including the Royal Government of Cambodia, the Royal Family, diplomatic corps, private sector, civil society, think tanks, and student bodies.
The celebration marked not only the momentous coronation of King Charles III but also the 70-year-long partnership between the United Kingdom and the Kingdom of Cambodia. It was a platform for fostering dialogue and connection among the diplomatic and business communities of both nations.
His Excellency British Ambassador to Cambodia, Dominic Williams, and the Guest of Honour, H.E Ly Thuch, Senior Minister & First Vice President of the Cambodian Mine Action & Victim Assistance Authority, both emphasized the significance of the event in their remarks.
70 years of the UK-Cambodia relationship
“Throughout the last 70 years of the UK-Cambodia relationship, our respective Royal Families have played an essential role in providing continuity and bringing our nations together in both difficult times and moments of celebration,” said Ambassador Williams. He further stressed the achievements of the two nations in various areas, including public health, wildlife conservation, and demining.
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Williams continued, “The next 70 years promise to be even more challenging, with threats from rising geopolitical tensions and acute challenges like climate change. The UK will move forward with Cambodia in a spirit of friendship and partnership, and I am confident that, in our relationship, the best is yet to come.”
Echoing similar sentiments, His Excellency Ly Thuch commended King Charles III’s commitment to public service and his dedication to making a positive difference in the world. He also highlighted the increasing cooperation between the two countries, stating, “Over the years, our two countries have developed all-round good cooperation for the mutual benefit of our two Peoples.”
Multiple initiatives to strengthen ties with Cambodia
This event also underscored the British Embassy’s ongoing efforts in Cambodia, focused on promoting education, health, democracy, human rights, good governance, demining, and tackling climate change. The British Government has launched multiple initiatives to strengthen ties with Cambodia, such as the Biodiverse Landscape fund and the Global Partnership for Education.
One noteworthy initiative is the recently launched Developing Countries Trading Scheme (DCTS). Aimed at boosting trade between Cambodia and the UK, this scheme offers generous trading preferences to support Cambodia’s transition to a middle-income country. It is designed to replace the UK’s Generalised Scheme of Preferences (GSP) and demonstrates the UK’s commitment to fostering long-term, mutually beneficial relationships with countries like Cambodia.
Read more: UK Government unveils new Developing Countries Trading Scheme in Cambodia
Trade between the two nations reached over $1 billion in the year to September 2022, with key products including clothing, footwear, and agricultural goods. The DCTS is anticipated to strengthen these figures by offering zero tariffs on a wide range of products, thereby promoting the growth of Cambodian exports to the UK and expanding their economy.
