Prime Minister Hun Manet visits the Cambodia Trade Expo (CTE) on December 13. FN
Cambodia is ramping up efforts to improve its business environment, strengthen market confidence, retain trade partners and explore new opportunities, as the country’s international trade volume surged by over 15% in the first 11 months of 2024.
In collaboration with private sector partners, the Ministry of Commerce is hosting the “Cambodia Trade Expo (CTE)” under the theme “A New Era of Trade” from December 13-16 at PH Grand Hall in Phnom Penh’s Chbar Ampov district.
The expo aims to showcase high-quality Cambodian products, essential imports, exports and services offered by both local and international suppliers. It seeks to bolster the country’s trade activities, improve the investment climate and strengthen connections between domestic and international exhibitors.
The event features 246 booths showcasing a wide range of products and services, with an estimated 50,000 participants expected to attend, including senior government officials, development partners and business representatives.
At the opening ceremony, commerce minister Cham Nimul announced that the country’s international trade volume for the first 11 months of 2024 had reached $50.45 billion, marking a nearly 16% increase compared to the same period in 2023. Exports totalled $24.34 billion, up 14.36%, while imports amounted to $26.01 billion, an increase of 17.48%.
Commerce minister Cham Nimul delivers a speech at the opening ceremony of the Cambodia Trade Expo (CTE) on December 13. AKP
Nimul also highlighted Cambodia’s progress in negotiating free trade agreements (FTAs) with several countries. She noted that the country has already signed FTAs with China and South Korea and is a participant in agreements such as the Regional Comprehensive Economic Partnership (RCEP).
“By early 2025, some FTA negotiations will conclude, while others will commence,” she said.
Prime Minister Hun Manet, speaking at the opening of the expo, expressed satisfaction with the country’s trade growth and reaffirmed the government’s commitment to enhancing the investment climate. He highlighted ongoing efforts to improve predictability, reliability and confidence for investors.
Manet emphasised the government’s agenda to strengthen existing markets and explore new ones, ensuring Cambodian products have access to competitive markets both domestically and internationally. He underscored the importance of deeper integration into regional and global economies while securing new preferential markets through bilateral, regional and multilateral FTAs.
He urged relevant ministries to actively participate in international trade exhibitions and organise events showcasing Cambodian products in markets such as the EU, UK and Australia.
Manet also called on the ministry to advance digital transformation in public services at both national and sub-national levels. He stressed the need to improve the digital skills of officials through regular training and cultivate digital leadership among leaders and civil servants to harness the benefits of technological advancements.
“These measures aim to boost economic efficiency, and reduce trade costs and processing time, as outlined in the government’s related policies,” he said.
