Cambodia has encouraged investments in bicycle parts and tools manufacturing from Japan for potential exports to international markets.
H.E. Pan Sorasak, Minister of Commerce, made the point while granting a farewell meeting for outgoing Ambassador of Japan to Cambodia H.E. Horinouchi Hidehisa, at the ministry office here in Phnom Penh yesterday.
The minister informed the Japanese ambassador that Cambodia is the world’s second biggest bicycle supplier to the European Union, yet some bike parts and tools have been imported from other countries.
He added that, the Royal Government through the Industrial Development Policy 2015-2025 is shifting the country from a low-skilled, labour-intensive growth model to a skills-driven one in order to boost the economic diversification.
Taking the opportunity, H.E. Pan Sorasak thanked the Government of Japan for its on-going assistance contributing vitally to the development of Cambodia.
From his side, H.E. Horinouchi Hidehisa spoke highly of the good relations and cooperation in all sectors between Cambodia and Japan, as well as the in-depth trade and investment reform attracting Japanese and foreign investment to the Kingdom.
Both sides also touched on cooperation in education, road infrastructure, health, agriculture, and rural development.