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Gulf Relations: ASEAN seeks Gulf nation investments

Gulf Relations: ASEAN seeks Gulf nation investments

ASEAN officials pledged closer cooperation with the six-member Gulf Cooperation Council (GCC), including boosting investment in ASEAN’s agriculture sector, at a conference that ended Tuesday. “Competent authorities … discussed ways and mechanisms appropriate for the development of programmes, projects and joint investments in agricultural production,” Cambodian Foreign Ministry spokesman Koy Kuong said. A possible free trade agreement was not discussed at the two-day conference in Singapore, co-chaired by Cambodian Foreign Minister Hor Namhong, though the Kingdom remains open to international investment, particularly in agriculture, he said. “In general, Cambodia welcomes foreign investment in food production because we have lots of fertile land.” Qatar commercial counselor Krissanet Sripresert confirmed Persian Gulf businesses were weighing investing in Cambodian agriculture. “Qatar looks to Cambodia for agricultural production, and as a market for our products, as well as a potential supply of labour,” he said. Cambodia has previously sought investment in agriculture from several GCC members.

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