September 27, 2023
PHNOM PENH – Cambodia and India are finalising negotiations on a bilateral investment treaty to streamline trade between the countries, while strengthening ties forged in 1952, as discussed during a meeting between Prime Minister Hun Manet and India’s Foreign Affairs Minister Subrahmanyam Jaishankar in the US’ New York City last week.
According to Cambodia’s Ministry of Foreign Affairs and International Cooperation, Manet stressed the benefits of finalising the treaty with Subrahmanyam at the meeting which took place on the sidelines of the 78th UN General Assembly.
Both parties talked about enhancing partnership and cooperation, in areas of security, defence, tourism and culture, the ministry said, adding that the discussion also highlighted innovative conservation projects that leverage the deep historical ties that bind Cambodia and India.
On September 24, Jaishankar posted on X (formerly Twitter) that he was pleased to meet with Manet to whom he conveyed the warm greetings of Indian Prime Minister Narendra Modi.
“[We] discussed the progress of our development partnership [and] expanding defence and cultural cooperation. [We also] exchanged views on Myanmar,” he mentioned.
Meanwhile, Devyani Khobragade, ambassador of India to Cambodia, who wrote a post on her social media on September 24, observed that Indian and Cambodian leadership continue to share deep trust and commitment to take their relationship to the next level.
During India’s 77th Independence Day celebration in August, Khobragade said the treaty, which was nearing finalisation, would be a catalyst for increased Indian investments in Cambodia.
India and Cambodia share the aspiration of peace, progress, and prosperity, she remarked, noting that with the new government under Manet’s leadership, India would continue its partnership with Cambodia in its “march towards development and prosperity for its people”.
In 2022, trade volume between Cambodia and India totalled $440 million. Cambodia’s exports stood at $196.6 million, while imports from India were $243.4 million.
In the first eight months of this year, trade volume reached $306.9 million, with exports amounting to $161.4 million and imports $145.6 million.