Cambodia has encouraged South African investors and businesspeople to explore investment opportunities in Cambodia, particularly in leveraging the benefits from the bilateral and multilateral free trade agreements that Cambodia has signed with various countries around the world.
Rath Saravuth, secretary of state at the Ministry of Commerce met with Darkey Ephriam Africa, South African ambassador to Cambodia, at the ministry’s headquarters on September 4, to discuss enhancing enhance economic and trade relations between the two nations.
Saravuth highlighted the potential for expanding bilateral trade and described key mechanisms that could improve the volume and quality of trade.
Africa suggested the establishment of a memorandum of understanding (MoU) to enhance the exchange of potential goods between the two countries in the future, particularly the import of South African agricultural products, including apples, coconuts, pears and blueberries.
Saravuth welcomed the proposal and suggested that both sides explore the possibility of organising business-to-business meetings and trade exhibitions, especially related to rice, which is in high demand in South Africa. Additionally, Cambodia requested that South Africa help promote Cambodia’s investment potential, given that Cambodia has many bilateral and regional trade agreements in place.
“I request that His Excellency the Ambassador help promote Cambodia’s investment and business potential to South African investors and businesspeople, so they can maximise trade benefits from Cambodia’s regional and bilateral free trade agreements,” he said.
Chan Sopheap, deputy director-general of the General Department of Customs and Excise (GDCE), addressed the “Implementation of Free Trade Agreements and International Customs Agreements” held for Cambodian customs and excise officials on August 21. He highlighted that Cambodia is currently implementing a total of 11 bilateral and multilateral free trade agreements.
They include the multilateral ASEAN Trade in Goods Agreement (ATIGA), ASEAN-China FTA, ASEAN-Korea FTA, ASEAN-India FTA, ASEAN-Japan FTA, ASEAN-Australia/New Zealand FTA, ASEAN-Hong Kong FTA and the Regional Comprehensive Economic Partnership (RCEP), as well as the bilateral Cambodia-China FTA, Cambodia-South Korea FTA and Cambodia-United Arab Emirates FTA.
South Africa is a large country on the African continent, with a land area of over 1.22 million square kilometres and a population exceeding 63 million as of 2024.
