• Economics

Indonesia Looking to Strengthen Business and Trade Ties with Cambodia

• Sao Phal Niseiy
• September 26, 2020 4:57 AM

As trade between the two countries has increased this year in spite of COVID-19

PHNOM PENH-- Indonesian Ambassador Sudirman Haseng on Sept. 25 called for stronger trade and business cooperation between Cambodia and Indonesia.  

Speaking at a working business dinner attended by around 50 representatives of Cambodian and Indonesian companies, Sudirman said that the ongoing Novel Coronavirus (COVID-19) pandemic has driven disruption of business activities and hampered economic relations between the two countries.

As a result, stronger cooperation between Cambodian and Indonesian business communities is needed to increase economic activities.  

The disruption caused by the pandemic has led to new ways to conduct business, and especially to operate online, Sudirman said.

“The nature of trade is undergoing a profound shift in an increasingly digital [environment],” he said. “Therefore, the embassy will launch [the business information site] Indonesian Products and Tourism Promotion in Cambodia through Facebook page to promote Indonesian companies, products and foods as well as tourism packages.”

This site will also serve as a matching place for both countries’ businesses seeking partners, distributers and buyers, he added.

Bilateral Trade still Growing despite the Pandemic

Cambodia and Indonesia established diplomatic relations in 1959 and, over the last decades, the ties between the two countries have expanded particularly in terms of trade and economic cooperation.  

In 2019, bilateral trade between Cambodia and Indonesia increased by 46 percent, reaching $792 million compared to $543 million in 2018, according to the Cambodian Ministry of Commerce’s data.

The Indonesian Embassy’s report on bilateral trade exchange indicates that Cambodia exports mostly garment products to Indonesia while coal and tobacco account for the largest shares of Indonesian exports to Cambodia. 

And the two-way trade between the two countries is such that it has continued to grow this year in the midst of the pandemic, Sudirman said.   

"I am surprised to learn that our bilateral trade still increased by 1.55 percent from January to July this year compared to the same period last year," he said.

Sudirman thanked both Cambodian and Indonesian business communities for their contribution to this significant growth in bilateral trade during this difficult time.

“I am hoping there will be concrete cooperation to conduct [business and trade] in the future,” he stressed. “The Indonesian Embassy is your partner to conduct promotion of Indonesian products here.”