Phnom Penh: The Ministry of Commerce has announced the bilateral trade volume between Cambodia and Cambodia And Japan in 2018, with more than US $ 1.6 billion, Cambodia has exported to Japan some of its potential goods such as: $ 1 billion worth of women's clothing, shoes, insoles and electrical equipment. Japan imported into Cambodia the potential goods such as vehicles, machinery, electronics, tires and plastic products, worth 509 Million USD.
Within the framework of FDI from Japan from 1994 to the first quarter of 2019, the Council for the Development of Cambodia signed List of 137 Japanese companies with a total investment of approximately US $ 2.5 billion focusing on electrical components And electrons Automotive components and technical facilities, agro-food processing, tourism, hotels, hospitals and shopping malls.
On January 17, 2020, Minister of Commerce Pan Soo, presiding over the inauguration of the Toyota headquarters building, said That the development and growth of Toyota as well as the private sector in general reflects the proper implementation of government policies. And through this, the Royal Government of Cambodia has achieved significant achievements, including: peace, stability, politics, security and public order. Deep and comprehensive reform, especially public administration reform, public financial management reform, decentralization and deconcentration, legal and judicial reform, and Fighting corruption. Achieve high growth of around 7% in the context of low inflation, stable exchange rates and international reserves. Average per capita GDP growth from US $ 1,548 in 2018 to US $ 1,679 in 2019. The poverty rate has been reduced to below 10% today and the unemployment rate is just 0.3%.
He added that peace is an indispensable necessity for socio-economic development and guarantees the attractiveness of foreign investment. . There is no peace, there is no development. Obviously, nowadays, because of the peace of the people of Cambodia, life is getting better year after year and starting from that, the need for consumption. The population of Cambodia is also increasing, including the need to use vehicles as a means of transportation. So thank you, peace and development.
Taking this auspicious occasion, on behalf of the Royal Government and the people of Cambodia, the Minister expressed his appreciation and appreciation to the Government of the Japanese Government and people Made a significant contribution to the quest for peace, national unity as well as the restoration and development of the Cambodian economy to this day through financing. Cooperation in infrastructure construction, technical assistance and human resource development, as well as Japanese private sector investment in Cambodia. To strengthen cooperation between the two countries, Cambodia and Japan signed the agreement on liberalization, promotion and investment protection. Japan-Cambodia Joint Committee Meeting At the same time, Cambodia and Japan are in the process of negotiating an agreement on tax avoidance and tax embezzlement. Related to income tax. In addition, the Ministry of Commerce signed a memorandum of understanding with JETRO aimed at establishing a framework for cooperation in promoting trade between the two countries. Japan refers to: 1) strengthening the economic relationship between Cambodia and Japan in trade and 2) enhancing the investment climate. Japan to encourage private companies to do business in the country. By: intellectual force majeure