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Cambodia and Canada Celebrate Bilateral Trade and Investment Cooperation

Phnom Penh, 15 May 2024: Cambodia and Canada have reaffirmed their commitment to strengthening bilateral cooperation in trade and investment, enhancing regional connectivity, and advancing the ASEAN-Canada free trade agreement.

This commitment was highlighted during a meeting between Deputy Prime Minister and First Vice President of the Council for the Development of Cambodia (CDC) Sun Chanthol and newly appointed Canadian Ambassador to Cambodia, Ping M. Kitnikone, held at the CDC headquarters earlier this week.

During the meeting, Sun Chanthol emphasized the Royal Government of Cambodia’s (RGC) vision to become a high-income country by 2050. This vision includes strengthening human resources and expanding foreign direct investment across various sectors, especially in industries such as automobile manufacturing, electronics, spare parts, and food processing. These efforts aim to diversify the industrial base, enhance skills, and create added value for the Cambodian people.

The Deputy Prime Minister also highlighted ongoing RGC initiatives, including vocational training programs for approximately 1.5 million Cambodian youths and the CDC's mission to attract global investment to Cambodia.

He expressed gratitude to Canada for its contributions to Cambodia’s socio-economic development.

Ambassador Ping M. Kitnikone praised Cambodia's peace, stability, and development, and noted the strong bilateral cooperation between the two nations. She highlighted the active involvement of Canadian businesses in Cambodia, particularly ABA Bank, a subsidiary of the National Bank of Canada.

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