Indonesia trade, commerce links poised to grow

MINISTER of Commerce Cham Nimul met with Indonesian Ambassador Santo Darmosumarto on November 22 to focus on deepening trade cooperation.

Indonesia became Cambodia’s 6th largest trading partner this year, marking a substantial jump from the 12th place in held in 2022.

“While Indonesia have become Cambodia’s number six trading partner this year, there remains much room for expanding trade and investment relations,” said the ambassador.

Indonesia’s trade with Cambodia surged to $862.215 million by October 2023, while the total for the whole of 2022 was $948.533 million. This increase has raised expectations that bilateral trade might exceed $1 billion for the first time.

Nimul proposed the formation of a joint working committee to enhance interactions and coordination between the two countries.

She also suggested establishing a dialogue mechanism between the ministry and the Indonesian business community in Cambodia. This initiative aims to address business challenges, streamline trade processes, and foster a more business-friendly environment.

Addressing some concerns of the Indonesian business community in Cambodia, the ambassador stressed the need for increased consultation and cooperation to improve the ease of doing business.

Darmosumarto also highlighted the upcoming 65th anniversary of Indonesia-Cambodia diplomatic relations in 2024 as an opportune moment to promote trade, investment, and tourism cooperation.

A ministry social media post suggested that the active exchange of views on potential strategies for mutual benefit and interest signified a promising future for Cambodia-Indonesia economic relations.

Both parties expressed a commitment to resolving issues faced by businesses through enhanced cooperation among all stakeholders.

The meeting concluded with a commitment to exploring new avenues for cooperation and strengthening comprehensive bilateral economic and trade relations.