Indian trade promotion office opens in Cambodia

September 2, 2012,  

PHNOM PENH (IANS): The office of the Indian Chamber of Commerce was officially launched here Sunday to promote economic, trade and investment ties between India and Cambodia.

The office is to act on behalf of Indian business organisations and individuals for business facilitation, regulatory exchange as well as to promote India-Cambodia economic and bilateral relations, Xinhua reported, citing a press release.

"It will act as the platform to guide Indian investments into Cambodia," the press release said. 

Speaking at the event, Debasish Pattnaik, president of the Indian Chamber of Commerce in Cambodia, said the office was to be a liaison between Cambodian and Indian business houses and representing the private sector by showcasing the multiple opportunities both countries have to offer to each other.

"Our goal is to offer access to resources and network opportunities for anyone interested or active in investment or trade amongst Cambodia or India," said Pattnaik, who is also vice chairman and CEO of a Cambodia-based D&D Pattnaik Group of Companies.

Indian Ambassador to Cambodia Dinesh K. Patnaik said the commerce office would help strengthen and promote trade and investment relations between the two countries.

According to the figures from India's Embassy to Phnom Penh, trade between India and Cambodia was at $72 million in 2011. Of this India exports to Cambodia were at $64 million.

Last year, India's private investment in Cambodia was $85 million in sugar plantations, sugar factories, power plants, and rice milling facilities.

"I believe that with the presence of the Indian Chamber of Commerce here, the bilateral trade and investment will be growing in multiple fold in coming years," Pan Sorasak, Cambodian secretary of state at the ministry of commerce, said at the event.