Logo of Phnom Penh Post newspaper Phnom Penh Post - Business group to join India tech fair

Business group to join India tech fair

Business group to join India tech fair

Cambodia Chamber of Commerce (CCC) vice-president Lim Heng has said he will lead a group of local businesspeople to join an Indian virtual tech expo next week to discover the latest technological advances in the marketplace and form strategic partnerships with other attendees.

The remark comes after the Ministry of Commerce on March 2 invited producers, traders, service providers and entrepreneurs to the “India Electricals and Electronics Virtual Expo”.

The event will be held from March 10-13 and is organised by the Associated Chambers of Commerce and Industry of India (ASSOCHAM) and the Indian Department of Commerce, the ministry said in the statement.

“The event’s main focus is to connect international buyers to source from Indian manufacturers and suppliers.

“India is one of the fastest growing manufacturing hubs in Asia, and the Indian government is shifting more focus on manufacturing and the export of electrical and electronic products to the world.

“Buyers will be able to connect with suppliers by chat or video calls at the event, create strong business relationships and develop quality supply” chains, it said.

Jumping on the bandwagon after receiving the ministry’s invitation, CCC’s Heng spread the news to members of the chamber who wished to take the opportunity to learn more about the up-and-coming technologies and electronic products from India.

He said: “This comes at just the right time and provides an opportunity for us to observe and directly engage with key electronics firms from India.

“As an emerging economy, it is crucial that we witness the advanced technologies with an eye to meet the high demand in [Cambodia] to support economic growth.”

India will become the second largest exporter to Cambodia after China, as the government forges ahead with procedures to begin talks on a free trade agreement (FTA) with India, he said. “As a regional market, India will provide much more potential in the forthcoming future.”

Trade between Cambodia and India reached $249.92 million in 2019, up 10.24 per cent compared to 2018’s $226.69 million, according to the Indian embassy in Phnom Penh.

The Kingdom exported $82.09 million worth of goods to India in 2019, up 69.43 per cent from 2018, while imports amounted to $167.83 million, down 5.8 per cent.

India invested $19.8 million in Cambodia in 2016, the latest figures from the embassy show, making the South Asian country one of the top 10 foreign investors in Cambodia.

India’s main investments are in machinery, agriculture, energy, construction and mining, according to the embassy.

MOST VIEWED

  • Municipal hall releases map detailing colour coded Covid risks by commune

    Phnom Penh municipal governor Khuong Sreng released an official map detailing the red, yellow and dark yellow zones within the city under the new lockdown orders for Phnom Penh announced on April 26. The designation of red, dark yellow and yellow corresponds to areas with high,

  • Inter-provincial travel ban lifted; Phnom Penh and Takmao not exempted

    The government on April 25 decided to lift the inter-provincial travel ban and the closure of tourist attractions across the country, effectively immediately. The travel ban and closures of all resorts were imposed on April 6 and 17 respectively in a bid to curb the spread of Covid-19,

  • Gov't mulls extension of Phnom Penh, Takmao lockdown

    The Inter-ministerial National Commission for the Control and Enforcement of Lockdown held a video conference meeting on April 25 to review a draft document on the extension of lockdown in Phnom Penh and adjacent Kandal province’s Takmao town. The meeting was chaired by Minister of

  • Phnom Penh, Takmao lockdown extended for another week

    The government late on April 26 announced an extension of lockdown in Phnom Penh and adjacent Takmao town in Kandal province for another seven days – or longer if residents do not comply with Covid-19 preventive measures and the community outbreak does not subside – until May 5. According

  • Gov’t issues guidelines as lockdown nears end

    The government has issued a five-page set of instructions to be enforced when the three-week lockdown of Phnom Penh and adjacent Takmao town in Kandal province ends on May 6. According to an announcement signed by Prime Minister Hun Sen on May 4, the instructions cover a

  • Tottenham Hotspur to wear ISF Cambodia logo on jerseys in match against Sheffield United

    Last year, the Indochina Starfish Foundation (ISF) – an NGO providing education to underprivileged children in Cambodia – made global headlines with its “socially distanced” football initiative. This year, a world-class football club – Tottenham Hotspur FC – will wear special edition jerseys to show their support for ISF