ISLAMABAD: Pakistan’s Commerce Minister Jam Kamal Khan on Tuesday invited Cambodian businesses to explore investment opportunities in the country’s agriculture, textiles, pharmaceuticals and tourism sectors, his ministry said, as Islamabad eyes foreign investment to ward off a prolonged economic crisis.
The development took place as both sides took part in the inaugural session of the Pakistan-Cambodia Joint Trade Committee (JTC) in Phnom Penh.
Khan arrived in Cambodia on Jan. 19 for a three-day official visit to the country to engage in bilateral trade talks amid Islamabad’s push to seek closer trade ties as it targets sustainable economic growth.
“Pakistan’s Minister for Commerce highlighted Pakistan’s strategic location, growing economy and investment-friendly policies, inviting Cambodian businesses to explore opportunities in agriculture, textiles, pharmaceuticals and tourism,” Pakistan’s Commerce Ministry said.
The minister stressed Pakistan’s efforts to improve ease of doing business and its potential as a gateway to key markets in South Asia, Central Asia and the Middle East.
The ministry further said Khan and Cambodian Commerce Minister Cham Nimul discussed mutual interests such as trade, health, banking, agriculture, aviation and customs.
She appreciated the first JTC meeting between the two sides and expressed interest in visiting Pakistan for the second JTC meeting after Khan extended her a formal invitation.
Nimul called for exploring joint ventures to leverage regional opportunities, highlighting Cambodia’s market access within the Association of Southeast Asian Nations (ASEAN) region, Pakistan’s commerce ministry said.
“Both countries also expressed interest in MoUs for aviation, banking, and customs cooperation,” the statement said.
“With bilateral trade currently valued at $45.5 million, both sides acknowledged significant untapped potential and committed to building stronger ties.”
The ministry said both sides will appoint focal persons to expedite negotiations for signing MoUs aimed at enhancing cooperation.
Additionally, Pakistan and Cambodia also agreed to share trade-related information, organize trade delegations and facilitate their respective business communities.
