The Ministry of Commerce on Monday called on the private sector to showcase their products and seek business partners at the upcoming “Cambodia Festival 2020” which will be held in Tokyo, Japan from May 2-3.
The event will be organised by the Royal Embassy of Cambodia in Japan and aims to attract more bilateral tourism, trade and investment, the ministry said in an announcement.
Representatives of various embassies, leaders of Japan’s Ministry of Foreign Affairs, as well as Japanese politicians and investors are set to attend.
“The Ministry of Commerce is pleased to invite all interested traders and entrepreneurs who wish to showcase their products or look for trade partners during the event to participate in the festival,” said the announcement.
Cambodia Chamber of Commerce vice-president Lim Heng told The Post that he welcomed the event and will invite others to attend.
“Japan is a potential market for us. Relations between our countries are getting stronger. The upcoming festival will be a good platform to give a chance to our local producers and business people to have direct contacts and seek partners,” said Heng.
Trade between Cambodia and Japan totalled $2.1 billion during the first eleven months of last year – up 12.95 per cent year-on-year from $1.86 billion, the Japan External Trade Organisation (Jetro) data shows.
Goods exported from the Kingdom to Japan were worth nearly $1.6 billion during the period – up 7.7 per cent year-on-year from $1.48 billion while imports from Japan were worth $502.88 million, up 33.9 per cent year-on-year from $375.70 million.
From 1994 to the first quarter of last year, the government approved 137 projects by Japanese companies with a total capital investment of about $2.5 billion.
They were in sectors such as manufacturing of electrical components and products, hotels and tourism, hospitals and supermarkets, data from the Council for the Development of Cambodia said.