Cambodia has revealed its intention to further increase trade cooperation with Indonesia, particularly in terms of milled rice export and production of bicycle spare parts.
As said in a news release of Ministry of Commerce, H.E. Pan Sorasak, Minister of Commerce, exposed the aims while co-presiding over the opening ceremony of Cambodia-Indonesia Friendship Expo, with H.E. Ms. Ina Hagningtyas Kristnamurth, Special Advisor to Ministry of Foreign Affairs of the Republic of Indonesia, in charge of Economic Diplomacy, in Siem Reap province, late last week.
H.E. Sudirman Haseng, Ambassador of Indonesia to Cambodia, was also part of the event.
Cambodia wanted to export its fragrant grain widely recognised as world’s best rice “Phka Malis Angkor”, and strengthened cooperation in production of bicycle spare parts to increase added value chain of local production, said H.E. Pan Sorasak.
On the occasion, the commerce minister highlighted good cooperation with Indonesia in sectors of trade, economy, and tourism.
According to H.E. Pan Sorasak, the two-way trade between Cambodia and Indonesia was US$558.62 million in 2018. By April of 2019, the trade volume of both countries was US$196.26 million, up 10.48 percent, compared to the same period in 2018 – of which Cambodia’s export to Indonesia rose by 7.75 percent, while import from the latter by 54.18 percent.
In terms of economic cooperation, both countries practiced non-double taxation and combating income tax evasion.
Recently, direct flight from Jakarta to Phnom Penh has been launched to promote tourism sector.
Taking place in Siem Reap province from July 19 to 21, the Cambodia-Indonesia Friendship Trade Fair was part of many activities organised by the two countries to celebrate the 60th Anniversary of the establishment of their diplomatic ties, and further tighten their friendship, and exchange experience, traditional culture, and custom.