Cambodian and Australian private sectors yesterday signed three memorandums of understanding to promote and facilitate the export of Cambodian products to the Australian market.
The MoU on the Cambodian-Australian collaboration to promote Cambodian products was signed in Sydney, Australia, in the presence of Cham Nimul, Minister of Commerce.
Officials from the Australian Department of Foreign Affairs and Trade, along with representatives from both Cambodian and Australian companies were present on the occasion.
The MoUs were signed between Cambodian companies including Amru Rice Cambodia Co., Ltd, Khmer Foods Group Co., Ltd, and Mirarth Agri Tech and Australian companies such as Green Group Pty. Ltd, MarketPlace Fresh Pty Ltd, Omara Import & Export, and Balha Sweets.
“These MoUs aim to promote and facilitate the export of Cambodian products, such as rice and cashew nuts, to the Australian market,” the ministry said in a statement issued following the signing ceremony.
The move was made amid the two countries having enjoyed bilateral trade growth as the Kingdom is looking to export more products to Australia.
Cambodia’s exports to Australia were valued at nearly $598 million in 2024, marking a 19.2 percent increase compared to the same period in the previous year, according to a recent report from the Ministry of Commerce.
The Kingdom’s export to Australia rose by 31 percent to $487 million, read the report.
Lim Heng, Vice-President of the Cambodia Chamber of Commerce, spoke highly of the Regional Comprehensive Economic Partnership (RCEP) agreements for positive impact on trade between Cambodia and Australia.
Speaking to Khmer Times, Heng said, “RCEP is playing an important role in strengthening and facilitating trade relations and making new opportunities for businesses and investors in both countries.”
Australia is one of the largest recipients of Cambodian products and also is a potential investment source in Cambodia, he said.
During the event, Nimul also presented the world’s largest sample of Cambodian cashew nuts to representatives of the Australian private sector to promote and encourage further exports to Australia.
Source: Khmer Times
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<p>Time: 2024 By: Ministry of Industry and Trade</p>
