The Indonesian embassy in Phnom Penh has announced a notable milestone in Indonesia-Cambodia trade relations, with bilateral trade figures soaring close to $1 billion. By November 2023, Indonesia secured its position as Cambodia’s 6th largest trading partner, registering a trade volume of $965.24 million.
This impressive achievement was a key topic during a meeting on January 3 between Indonesian Ambassador Santo Darmosumarto and Cambodian Minister of Foreign Affairs and International Cooperation Sok Chenda Sophea. The embassy underscored the significance of this growth, stating, “This figure represents a substantial increase and is a testament to the growing economic cooperation between the two nations. It is also part of elevated cooperation in celebration of 65 years of diplomatic relations.”
The remarkable rise in trade is particularly evident through the boost in Cambodian exports to Indonesia, which reached $70.56 million in 2023, marking a 112% jump from the prior year. This trend demonstrates the flourishing economic ties and reciprocal benefits stemming from this fortified partnership.
A pivotal moment in this evolving relationship was Cambodia’s inaugural shipment of milled rice to Indonesia in September 2023. This event not only marked diversification in trade commodities but also established a foundation for more intensive bilateral economic engagements in the future.
Ambassador Darmosumarto, in his discussion with Chenda Sophea, highlighted the imperative of transforming historic ties into practical trade and investment collaboration. Looking ahead to 2024, he conveyed optimism for mutual gains through continued cooperation. His vision extends to enhancing connections among citizens, especially youths, through initiatives in education, culture, and tourism.
The 14th Indonesia Trade & Tourism Promotion (ITTP 2023), held in August, exemplified Indonesia’s dedication to deepening bilateral ties. Under the theme ‘Strengthen Cooperation through Collaboration’, the event focused on fostering links across trade, tourism, higher education, art, and culture. Lauti Nia Astri, acting charge d’affaires at the embassy, reaffirmed Indonesia’s commitment to fostering Cambodia’s educational sector and underscored the vital role of collaborative learning and skill development in enriching bilateral relations.
Chenda Sophea recognized the 65th anniversary of diplomatic ties, advocating for enhanced collaboration across diverse sectors and joint efforts in regional and international forums.
The significant surge in Cambodia-Indonesia trade relations is a promising indicator of future collaborations and shared economic prosperity. Darmosumarto expressed appreciation for Cambodia’s support during Indonesia’s ASEAN chairmanship, acknowledging its contribution to the region’s economic rebound post-pandemic.
Established on 13 February 1959 with the Treaty of Friendship, the longstanding bond between the two countries continues to advance, fostering robust economic and cultural connections for the future.
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