Logo of Phnom Penh Post newspaper Phnom Penh Post - Cambodia, Morocco plan business forum, keen to deepen ties: envoy

Cambodia, Morocco plan business forum, keen to deepen ties: envoy

Content image - Phnom Penh Post
Cambodian ambassador to Thailand Ouk Sorphorn (centre) meets his Moroccan counterpart Abderrahim Rahali on February 1. SUPPLIED

Cambodia, Morocco plan business forum, keen to deepen ties: envoy

Cambodia and Morocco are planning a business forum geared towards expanding bilateral trade and investment cooperation, bridging investors of both countries, according to Cambodian ambassador to Thailand Ouk Sorphorn.

The ambassador met his newly-appointed Moroccan counterpart Abderrahim Rahali earlier this month.

Sorphorn told The Post that Morocco is interested in pumping money into Cambodia, especially now given the favourable conditions for foreign investors offered by the ASEAN member’s new Law on Investment.

Although bilateral cooperation has historically been scant due to the considerable geographical distance between the two countries, Rahali says Moroccan businesspeople are keenly interested in Cambodia, owing to its effective Covid management and the respectable number of free trade agreements (FTA) under its belt, according to Sorphorn.

“Morocco wants to expand its market access to Cambodia, and upscale imports of Cambodian goods, and the ambassador [Rahali] has also inspired Moroccan players to invest.

“We plan to hold a business forum between the two countries to gauge what Cambodians can export to Morocco,” he said, noting that the North African country’s population is about 35-36 million.

Last year, bilateral trade between Cambodia and Morocco topped $4.4 million, ticking up by 4.42 per cent over 2020. Of that, Cambodian exports to Morocco rose by 4.31 per cent to more than $4.3 million, and imports inched up by 0.11 per cent to over $110,000, according to the Ministry of Commerce.

Ministry spokesman Pen Sovicheat also noted that Morocco’s vast geographical distance from Cambodia – about 10,400km at the nearest point – makes transport difficult, keeping trade volumes low.

He noted that agricultural products make up a fair share of Cambodian exports to Morocco, and that the African country still buys small amounts of Cambodia’s textile-related goods – imported through France and other European countries.

Sovicheat hopes for better-developed trade relations between the two countries that would stimulate Moroccan purchases of agricultural products, garments, bicycles, spare parts and components, and other merchandise.

“We are also looking at what we can bring back from Morocco,” he said, adding that the proposed forum and similar initiatives would help the countries to better understand each other’s needs and expand mutual cooperation.

Sovicheat affirmed that the ministry welcomes and supports Moroccan investment and other approaches to further expand bilateral trade and investment cooperation.

MOST VIEWED

  • 12th Cambodia int’l film festival to see return of Hollywood star

    Phnom Penh is set to come alive with the magic of cinema as the highly anticipated 12th Cambodia International Film Festival (CIFF) takes centre stage. Boasting an impressive line-up of 188 films from 23 countries, including captivating shorts, feature films, documentaries and animation, the festival promises an

  • Bareknuckle champion wants Kun Khmer fighter

    Dave Leduc, who is the current openweight Lethwei boxing champion in Myanmar, has announced that he will travel to Cambodia this year to challenge SEA Games gold medallist Prum Samnang any time that is convenient, after their planned match later this month in Slovakia was

  • Fresh Covid warnings as Thai hospital fills

    A senior health official reminds the public to remain vigilant, as neighbouring countries experience an increase in Covid-19 cases, with the latest surge appearing to be a result of the Omicron XBB.1.5 sub-variant. Or Vandine, secretary of state and spokeswoman for the Ministry of Health,

  • 1.4 billion dollar Phnom Penh-Bavet expressway due in four years

    The Government, through the Ministry of Public Works and Transport, has officially signed a public-private partnership agreement with a private company for the construction of a Phnom Penh-Bavet Expressway project that will connect the capital to Svay Rieng province. The budget for the project is

  • Struggling Battambang artist dreams of staging full-scale gallery exhibition

    Leav Kimchhoth, a 55-year-old artist from Battambang province, is a familiar face to locals and tourists alike on the streets of the riverside in Phnom Penh. The one-armed painter and illustrator often hawks his work near the night market on weekends and public holidays. He

  • New Law on Taxation comes into effect

    Cambodia has enacted the eagerly-awaited new Law on Taxation, which aims to improve the national tax regime’s compliance with present and future international standards and economic conditions; encourage accountability, effectiveness and transparency in the collection process; and promote investment in the Kingdom. King Norodom