Phnom Penh, March 13, 2024: The European Union has announced the introduction of a series of innovative programs in Cambodia, with a focus on promoting sustainable value chains, enhancing energy efficiency, and advocating for the adoption of renewable energy sources. The unveiling took place during a signing ceremony on March 12, attended by Cambodian Deputy Prime Minister and Minister of Economy and Finance, Dr. Aun Pornmoniroth, and European Commissioner for International Partnerships, Ms. Jutta Urpilainen, alongside an esteemed gathering of Deputy Prime Ministers, Senior Ministers, government officials, Ambassadors of EU Member States, and various partners.
These four newly launched programs, financed by the EU and its Member States, will infuse a total of €79 million (approximately US$85.6 million) into critical sectors including Agriculture, Garment, Footwear and Travel Goods, Education and Research, and Trade and Private sector development. The overarching goal is to diminish reliance on fossil fuels, fortify energy security, and facilitate the integration of Cambodian products into the global market.
Moreover, the EU's support extends to engaging a diverse array of non-governmental entities in advocating for the transition towards greener practices.
Dr. Aun Pornmoniroth conveyed heartfelt appreciation to the EU and Commissioner Urpilainen for their consistent backing and contribution to Cambodia’s socio-economic progress. He emphasized the significance of these novel programs in aligning with the Government's Pentagonal Strategy, pivotal for achieving the nation's aspirations of attaining upper middle-income status by 2030 and high-income status by 2050.
Reiterating Cambodia's commitment to fostering future collaborations, Dr. Pornmoniroth underscored the multifaceted sectors where the partnership will be reinforced.
Commissioner Urpilainen reflected on the profound importance of her visit, characterizing it as an occasion to contemplate the enduring cooperation between the EU and Cambodia, while also looking ahead to future joint endeavors through the launch of the new programs. These initiatives aim to support sustainable economic growth, job creation, and facilitate tangible cooperation in vital sectors.
“The European Union remains steadfast in its partnership with Cambodia, particularly in aiding the nation's transition through the green and digital revolutions,” stated Commissioner Urpilainen. She also highlighted the EU’s Global Gateway investment strategy as a pivotal tool for Cambodia in its journey beyond the Least Developed Country status.
