Some 80 businessmen from Cambodia and Indonesia gathered at a trade fair in Phnom Penh on Wednesday to forge partnerships and explore ways to boost bilateral trade.
“It’s very important for us to see the future. We should be clear on the many ways we can cooperate in the short and medium terms,” said Indonesian Ambassador Sudiraman Haseng.
The networking event, organised by the Indonesian embassy, was held in conjunction with the campaign Indonesian Trade and Tourism Promotion 2018.
It comes as an Indonesian embassy report said trade between the two countries reached more than $318 million so far this year – an increase of 8.3 per cent compared with the same period last year.
The report showed that Cambodian exports to Indonesia grew to more than $17 million last year, an increase of more than 12 per cent from 2016.
Imports from Indonesia reached more than $301 million, an increase of roughly eight per cent.
“Windows of opportunity and cooperation are still waiting to be discovered and expanded,” Haseng said.
The ambassador praised the strong friendship between the two countries and promised that new milestones in trade would be achieved by working “hand in hand.”
More than 80 companies from both countries were represented at the trade fair. Among the Indonesian businesses were firms representing the pharmaceutical, fashion, construction and automotive sectors, among others.
Ministry of Commerce deputy director of trade promotion Tan Yuvaroath said the event was crucial for expanding market opportunities between the countries and promoting partnerships.
“This event is a chance for businessman to understand each other and learn about the market demands of each country. Then the business deals will happen,” he said.
Yuvaroath said despite the booming bilateral trade numbers, there were still no direct flights between Cambodia and Indonesia.
After the meeting, at least two companies from their respective countries reached a Memorandum of Understanding that will be signed today.
Sahata Patio, the international business manager of Deltomed, an Indoneisan pharmaceutical company, said he agreed to a partnership with Dynamic Pharma Cambodia after visiting the Kingdom twice last year.
“This event is very good for businessman like us in the pharmaceutical sector. We know very well that Cambodia’s market has great potential for exports and imports. So , we are here and we will continue to explore the Cambodiam market,” he said.