Foreign minister Sok Chenda Sophea and his Indonesian counterpart Retno Marsudi display the signed minutes of the 5th meeting of the Joint Commission for Bilateral Cooperation between Cambodia and Indonesia (JCBC) in Phnom Penh on August 21. Retno Marsudi via X
Cambodia and Indonesia’s top diplomats have agreed to expedite the signing of a memorandum of understanding (MoU) on rice trade and introduce new MoUs on several areas of trade and tourism. They have also committed to urging more direct flights between the two countries’ most popular tourist destinations.
The agreement was made during the 5th meeting of the Joint Commission for Bilateral Cooperation between Cambodia and Indonesia (JCBC), held in Phnom Penh on August 21.
Cambodian Minister of Foreign Affairs and International Cooperation Sok Chenda Sophea and his Indonesian counterpart Retno Marsudi co-chaired the event.
“Both sides noted with satisfaction the steady growth of bilateral trade, which exceeded $1 billion in 2023, and agreed to expedite the conclusion of a bilateral MoU on rice trade.
“To improve connectivity and facilitate economic and cultural exchanges, both sides concurred to endeavour for more direct flights between the tourist cities of the two countries,” said the Cambodian foreign ministry, in an August 21 press release.
Chenda Sophea and Marsudi emphasised the importance of food security, with both sides affirming their commitment to expediting the implementation of an MoU on agricultural cooperation which was signed in September 2023, as well as the signing of an MoU which will focus on the development of small and medium enterprises (SMEs).
They also agreed to conclude at the earliest an MoU on cultural cooperation, renew sister-province cooperation between Siem Reap and Central Java and the establishment of a sister city relationship between Phnom Penh and West Sumatra.
It was also agreed to expand cooperation between the Council for the Development of Cambodia (CDC) and the Indonesian Ministry of Investment to further promote inbound and outbound investment.
The meeting also welcomed the intention of the Indonesian company Perum BULOG to develop its agricultural business in the Kingdom, namely rice mills and warehouses.
In the first seven months of 2024, trade volume between Cambodia and Indonesia was over $664 million, down 1% on last year. Of this, exports were over $62 million, an increase of 155%, while imports from the country were over $601 million, down 6.9% compared to the same period in 2023, according to the General Department of Customs and Excise (GDCE).
