Cambodia Investment Review

Indonesian Ambassador Advocates for Enhanced Private Sector Cooperation Meeting With Cambodia Chamber of Commerce

Indonesian Ambassador Advocates for Enhanced Private Sector Cooperation Meeting With Cambodia Chamber of Commerce

Cambodia Investment Review

Ambassador of the Republic of Indonesia to the Kingdom of Cambodia, H.E. Dr. Santo Darmosumarto, met with the Vice President of the Cambodia Chamber of Commerce (CCC), H.E. Lim Heng, at the CCC headquarters in Phnom Penh.

During the meeting, Ambassador Santo expressed his satisfaction with Indonesia’s ranking as Cambodia’s sixth-largest trading partner in 2023 but emphasized the vast potential for growth in the bilateral economic partnership. “I am proud of the strides we have made in our trade relations, yet I firmly believe that we have barely scratched the surface of what’s possible. There is ample room for our economic partnership to develop further,” stated Ambassador Santo.

Increased demand of Indonesian products in Cambodia

To facilitate this growth, the Indonesian Embassy in Phnom Penh has planned a series of promotional activities aimed at deepening economic ties. Among these activities, a health and beauty fair, scheduled for June 2024 in Phnom Penh and Sihanoukville, will showcase the rising popularity of Indonesian health products, particularly in the herbal and traditional medicine sector, among Cambodian consumers.

Read more: Indonesian Ambassador and Cambodian Minister of Economy Foster Bilateral Economic Ties

Ambassador Santo remarked, “The appreciation for Indonesian health products in Cambodia lays a solid foundation for our producers, especially in the herbal and traditional medicine sector, to expand their reach and capitalize on the immense market potential.”

The health and beauty fair is set to precede Sousday Indonesia, a grand event designed to promote trade, investment, and tourism between the two nations, slated for September 2024 in Phnom Penh. “We are gearing up for an event that will not only showcase our mutual economic potentials but also strengthen the bonds between our private sectors. We anticipate participation from about 100 companies from both Indonesia and Cambodia, marking it as a cornerstone event for our bilateral trade relations,” added Ambassador Santo.

Further emphasizing the commitment to bolstering trade relations, the Embassy plans to lead a substantial delegation of Cambodian businesses to Indonesia’s largest international trade fair in October 2024. This visit will also include a forum discussing opportunities in infrastructure cooperation, signaling a deepened commitment to expanding bilateral trade and investment avenues.

Government support in fostering private sector interactions

Responding to the initiatives, Vice-President Lim Heng assured the CCC’s full support for the Embassy’s efforts in enhancing bilateral trade, investment, and tourism cooperation. He acknowledged the importance of government support in fostering private sector interactions and expressed optimism about the collaboration prospects between the CCC and the Indonesian Chamber of Commerce in Cambodia.

“We are fully committed to working alongside the Embassy to facilitate these significant initiatives. It’s imperative that we, as representative bodies of our respective business communities, pave the way for a more intertwined and collaborative future,” stated Vice-President Lim Heng.

As both countries look forward to these upcoming events, the mutual commitment from the Indonesian Embassy and the CCC underscores a shared vision for a more prosperous and interconnected economic future between Cambodia and Indonesia.

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