Phnom Penh, 3 February 2023 (TDI): The Ministry of Commerce of Cambodia has been preparing for the establishment of five Cambodian private business centers in the main cities of China.
This aims to promote the sale of Cambodian products in the Chinese market. The centers are scheduled to appear in five different cities across China. Cities such as Changchun, Harbin, Nanjing, Taiyuan, and Zhengzhou are included in this category.
According to Cambodia’s Minister of Commerce; Pan Sorasak, the private business centers in Cambodia will further promote and increase sales of Cambodian products on the Chinese market.
Comprehensive Reforms
The ministry has a strong commitment to fostering the expansion of the commercial trade sector by transforming obstacles into opportunities. This will be done through comprehensive reforms across all policy domains.
Pan Sorasak shared that Cambodia is looking forward to lowering costs and increasing the competitiveness of Cambodia’s exports to other markets.
In addition, Cambodia is creating a favorable environment for doing business and investing in Cambodia, Pan Sorasak said.
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Likewise, the Ministry has been instrumental in the expansion of exports through the development of preferential markets already in place as well as new market diversification.
The Minister of Commerce stated that these include the talks for the development of bilateral and multilateral free trade zones with trade partners extending the market for goods, services, and investment.
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In addition, in March 2022, the Ministry of Commerce constructed the Cambodian Private Business Centre in Atsugi. This is located in the Kanagawa Prefecture of Japan and had a formal opening ceremony for it.
The purpose of this was to provide a venue for the consistent exhibition and sale of Cambodian goods.
The trade volume between Cambodia and China reached US$11,686 million in 2022. This is an increase of 4 percent, of which Cambodia exported a total of US$1,241 million worth of goods to China.
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