India and Cambodia Hold Meeting to Enhance Trade and Investment Relations

The discussions, held in person for the first time since the JWGTI was formalized, focused on strengthening bilateral trade and investment ties.

India recently hosted the second meeting of the India-Cambodia Joint Working Group on Trade & Investment (JWGTI) at Vanijya Bhawan in New Delhi. Co-chaired by Shri Siddharth Mahajan, Joint Secretary of the Department of Commerce, Ministry of Commerce and Industry, Government of India, and Mr. Long Kemvichet, Director General for International Trade, Ministry of Commerce, Kingdom of Cambodia, the meeting saw participation from stakeholder Ministries representing both nations.

The discussions, held in person for the first time since the JWGTI was formalized, focused on strengthening bilateral trade and investment ties. Shri Siddharth Mahajan emphasized the importance of creating mechanisms for enhanced cooperation in sectors of mutual interest.

Key agenda items included cooperation in Traditional Medicine and e-governance, diversification of the trade basket through the identification of new products, discussions on a Bilateral Investment Treaty, and the recognition of the Indian Pharmacopoeia. Additionally, both sides explored collaboration opportunities in the pharmaceutical sector.

A significant part of the meeting centered on ongoing efforts to promote trade and tourism through Unified Payment Interface (UPI) based digital payments. The Cambodian delegation highlighted multiple investment opportunities across various sectors with substantial growth potential, showcasing Cambodia as an attractive destination for Indian businesses.

The JWGTI, initially convened virtually in July 2022, underscored the shared commitment to expanding trade volumes and fostering investment. This physical meeting marks a pivotal step towards realizing concrete mutual benefits and signifies the importance of continued dialogue and interaction between India and Cambodia.