Phnom Penh, May 14, 2019—Cambodia’s Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen and his Nepalese Counterpart, the Rt. Hon’ble K. P. Sharma Oli have reaffirmed their commitment to promote their business relations while the volume of their bilateral trade is still limited.
The commitment was made while the two Premiers were co-presiding over Cambodia-Nepal Business Forum at Sokha Phnom Penh Hotel this afternoon, with nearly 200 Cambodian and Nepalese businessmen and investors in attendance.
The Rt. Hon’ble K. P. Sharma Oli was determined to form a strong partnership with Samdech Techo Hun Sen to foster the economic ties between both countries for the interest of the two peoples.
Nepal can learn from the rapid development of Cambodia, he underlined, calling on both the Cambodian and Nepalese business communities to look for join business opportunities.
For his part, Samdech Techo Hun Sen informed the forum about Cambodia’s Government-Private Sector Forum which has set forth measures to increase the competitiveness of Cambodian economy, improve business and investment climate, and diversity national economy and create more jobs.
Samdech Techo Prime Minister also highlighted Cambodia’s potential for investment such as political and macroeconomic stability, opening for all investors without discrimination, young and diverse labour force, and its strategic location in ASEAN, whis has been becoming the “factory of Asia”.
Cambodia and Nepal established their diplomatic relations in 1964. But, the ties were interrupted due to civil wars in Cambodia before being reestablished in 1999. Their two-way trade reached only US$210,000 in 2017, down 17.6 percent compared to a year earlier.