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Japan keen on trade opportunities

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CCC president Kith Meng will meet with Japanese counterparts to explore opportunities for mutual business and trade. Heng Chivoan

Japan keen on trade opportunities

Representatives of the Cambodian and Japanese private sectors are scheduled to meet on Tuesday and explore opportunities for mutual business and trade promotion, the Cambodian Chamber of Commerce (CCC) said on Saturday.

CCC president Kith Meng will meet Marisa Haruta and welcome her as the new chief representative of the Japan External Trade Organisation (Jetro) in Cambodia, the CCC said.

CCC director-general Nguon Meng Tech told The Post on Monday that the meeting seeks to strengthen business and commercial cooperation between the CCC and Jetro.

On September 3, Council for the Development of Cambodia (CDC) secretary-general Sok Chenda Sophea headed the Cambodian side at the 20th Cambodia-Japan Joint Committee meeting.

He said the two sides are committed to continue working together to resolve the remaining issues in red tape reduction and ensure more activity among ongoing Japanese investment projects, and guarantee competitiveness.

“I would like to thank all Japanese investors who have always believed in the Royal Government of Cambodia.

“I highly appreciate the investment activities of all Japanese investors, especially in the non-textile manufacturing sector, which has been playing an important role in Cambodia’s economic diversification and resource development in line with the Cambodian Industrial Development Policy 2015-2025,” Chenda Sophea said.

Between 1995 and July, the CDC has registered 144 Japanese investment projects with $2.8 billion in capital investment, its figures show.

Of these, 66 were in special economic zones (SEZs) with an estimated capital investment of $340 million.

Founded in 1958 to promote Japanese exports abroad, Jetro has shifted its core focus to foreign direct investment from Japan and facilitating world trade and global partnerships. In 2010, the government entity set up an office in Cambodia.

Goods exported from Cambodia to Japan were worth more than $1.045 billion in the first eight months of this year, down 5.3 per cent from $1.103 billion in the same period last year, Jetro figures show.

Imports from Japan were worth more than $300 million, down 14.2 per cent from $350 million in the year-ago period.

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