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Cambodia and Hong Kong Discuss Enhancing Trade and Investment Ties

Phnom Penh, March 21, 2024 – The Kingdom of Cambodia and the Hong Kong Special Administrative Region (SAR) are setting the stage for strengthened trade and investment relations following a series of high-level discussions.

On March 19, in Hong Kong, a pivotal meeting took place between Sok Sopheak, Secretary of State at the Ministry of Commerce of Cambodia, and Agnes Chan, Deputy Chairman of the Hong Kong General Chamber of Commerce (HKGCC). The meeting, which also saw participation from leaders of private enterprises in Hong Kong, focused on avenues for bolstering bilateral trade and investment. This development was confirmed by the Cambodian Ministry of Commerce.

During the discussions, the Secretary of State provided an overview of Cambodia's economic milestones under the current government. Notably, the implementation of Cambodia's New Investment Law and accompanying regulations, the conclusion of several bilateral and multilateral Free Trade Agreements (FTAs), and policies aimed at enhancing digitalisation, including the National Single Window project, were highlighted. Additionally, the recent Special Programme for Promoting Investments in Preah Sihanouk Province, initiated by the Prime Minister in January, was showcased as a significant move to attract further investment.

The dialogue also explored the potential for a more concrete partnership between the HKGCC and the Cambodia Chamber of Commerce, aiming to establish a practical platform for cooperation.

In a related engagement on March 18, Sok Sopheak met with Dr. Stephen Wong, Head of the Chief Executive’s Policy Unit (CEPU) in Hong Kong SAR. This meeting delved into the role of think tanks in shaping public policy in Hong Kong SAR and discussed mutual benefits under the Belt and Road Initiative (BRI), the encouragement of startups through research and development (R&D), and Hong Kong SAR’s strategic shift from 'Made in Hong Kong' to 'Made by Hong Kong'.

Subsequently, discussions with Desmond Hou, Deputy Government Economist of the Office of Government Economist (OGE) in Hong Kong SAR, focused on Cambodia's Pentagonal Strategy-Phase I and the legal and policy reforms aimed at fostering trade and investment growth. These reforms are particularly relevant as Cambodia seeks to navigate through the challenges posed by the pandemic and geopolitical tensions.

These meetings underscore a mutual interest in deepening economic ties and exploring new opportunities for collaboration between Cambodia and Hong Kong SAR, aiming at a prosperous future for both regions.

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