Posted by The Bangkok Post
PHNOM PENH : Indian President Pratibha Devisingh Patil recently encouraged Cambodia to transform itself into a "rice basket" and increase the use of preferential trade tariffs with her country.
"India and Cambodia are at a modest level [of trade], but there exists a much greater scope for expansion," said a transcript of the president's speech.
Highlighting potential for Cambodia's agricultural development, she recommended that the government find ways to improve productivity and developed the kingdom into a "key exporting country in the world" while utilising trade incentives. She added that the agricultural sector had drawn "a lot of interest" among well-regarded Indian companies that she hoped that would eventually bear fruit as business transactions.
Nguon Meng Tech, the director of the Cambodia Chamber of Commerce (CCC), said the meeting was an important step in solidifying business relationships, adding that he hoped India's expertise in the fields of medicine and information technology, as well as agriculture, would benefit the Kingdom.
Kith Meng, the CCC president, said in a speech that Cambodia was an "economic star of Asia" and that Cambodia's competitiveness would improve.
Rivher Prasad, Cambodia country director of the Indian trading company PPS Group, which specialises in pharmaceuticals and water pumps, said before the meeting that he thought the kingdom's potential was growing day by day.
"I can say there is a lot of development, as the situation is very stable and controlled here," he said.
Bilateral trade between Cambodia and India increased more than 23% to reach more than US$22 million in the first six months this year, up from $18 million for the same period last year. The vast majority of trade consisted of Indian exports to Cambodia, according to data from the Ministry of Commerce. They included medicines and medical instruments, textiles, leather, and machinery.
The two countries are preparing to ratify a free-trade agreement on agricultural products as part of a raft of measures that have been undertaken to boost trade between Asean and India.
"India and Cambodia are at a modest level [of trade], but there exists a much greater scope for expansion," said a transcript of the president's speech.
Highlighting potential for Cambodia's agricultural development, she recommended that the government find ways to improve productivity and developed the kingdom into a "key exporting country in the world" while utilising trade incentives. She added that the agricultural sector had drawn "a lot of interest" among well-regarded Indian companies that she hoped that would eventually bear fruit as business transactions.
Nguon Meng Tech, the director of the Cambodia Chamber of Commerce (CCC), said the meeting was an important step in solidifying business relationships, adding that he hoped India's expertise in the fields of medicine and information technology, as well as agriculture, would benefit the Kingdom.
Kith Meng, the CCC president, said in a speech that Cambodia was an "economic star of Asia" and that Cambodia's competitiveness would improve.
Rivher Prasad, Cambodia country director of the Indian trading company PPS Group, which specialises in pharmaceuticals and water pumps, said before the meeting that he thought the kingdom's potential was growing day by day.
"I can say there is a lot of development, as the situation is very stable and controlled here," he said.
Bilateral trade between Cambodia and India increased more than 23% to reach more than US$22 million in the first six months this year, up from $18 million for the same period last year. The vast majority of trade consisted of Indian exports to Cambodia, according to data from the Ministry of Commerce. They included medicines and medical instruments, textiles, leather, and machinery.
The two countries are preparing to ratify a free-trade agreement on agricultural products as part of a raft of measures that have been undertaken to boost trade between Asean and India.
6 comments:
Cambodia has lots of potential to be a rich country but we need to clean up the upper house first. As long as these corrupted people still in government there is no way Cambodian can nationally benefit from it riche resources because it goes to individual pocket mainly Sok An and Hun Sen.
Cambodia is the world's SHIT BASKET
siem and youn are the world's shit baskets. cambodia is encouraged to be the rice basket of asia!
Ye, ye, Khmai shit basket, Khmai loves to eat shit, hahaha
siem and youn thieves, don't be jealous of cambodia, ok!
cambodia should specialize in fish products too as we are rich in aquadect lives. investors should look into fish canning, dry fish products, frozen fish products, fish jerky products, organic food products, etc, etc... please think about business in cambodia, and don't forget cambodia is rich in tropical fruits as well like durian, rambatan, lychee, milk fruits, star fruits, tropical mangoes, mongkut fruits, jackfruits, variety of tropical bananas, pursat oranges, variety of guavas, fresh sugar canes, logans, etc, etc..., the list goes on and on... please come invest in cambodia, america, europe, middle eastern countries, etc, etc... god bless cambodia.
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