Workshop analyzes progress of economic diplomacy strategy

Cambodia is taking further steps to optimize the implementation of the Economic Diplomacy Strategy (EDS) 2021-2023 to boost economic cooperation among the six Mekong countries, garner more inward investment flows and promote trade. local products abroad, said a workshop held on June 27.

The National Consultative Workshop on “Economic Diplomacy in the New Normal” analyzed the progress made by the DHS 2021-2023 – and related initiatives – since its launch on January 18, 2021. The event was organized by the Economic Directorate of the Ministry of Foreign Affairs and International Cooperation. Diplomacy Coordinating Group (EDCG), with support from the Mekong-Lancang (MLC) Cooperation Special Fund (MLCSF).

During the event, Nhim Khemara, Secretary of State in the Ministry of Foreign Affairs and Head of EDCG, highlighted some of the “significant achievements” of EDCG in areas such as economic diplomacy capacity building and the co-organization of business forums with key partner countries.

One achievement he mentioned is the compilation and publication of “The Taste of Angkor” which was honored by the Gourmand World Cookbook Awards 2022 in two categories: “Best Asian Cuisine Book” and “Heads of State/Food”.

The EDCG has also prepared informative panels on socio-economic affairs, investment, trade and tourism; establish inter-ministerial and private sector working groups to facilitate the execution of economic diplomacy strategies; and developed marketing initiatives for Cambodian products, including showcasing them at overseas exhibitions, Khemara said.

Also present at the workshop, the Permanent Secretary of State of the Ministry of Foreign Affairs, Ouch Borith, said that the flexible and effective implementation of economic diplomacy has become one of the five priority tasks of the reform work of the ministry, and received the support of Prime Minister Hun Sen.

The associated strategic framework has opened the doors to actions that can attract foreign direct investment (FDI), foster bilateral and multilateral trade, develop appreciation of Cambodian culture abroad and encourage travel. in the Kingdom, and to create a new generation of highly qualified professionals. capable diplomats who actively protect and promote national interests in all areas, he said.

Sok Soken, state secretary in the Ministry of Foreign Affairs and deputy head of the Cambodian National Secretariat for Mekong-Lancang Cooperation (NSC-MLC), told the workshop that China has played an important role in promoting the MLC. , which played a key role in the implementation of the SDE 2021-2023.

“Economic diplomacy in the new normal will be an important tool for the Cambodian government to integrate the regional and global economy, deepening and expanding bilateral and multilateral cooperation to diversify sources of growth, develop economic potential and take full advantage of new opportunities,” he said.

Chinese Ambassador to Cambodia Wang Wentian told the event that the MLCSF had provided significant support in building economic diplomacy capacity for the post-Covid-19 era, which he said would provide a valuable opportunity to improve the implementation of the DHS 2021-2023, as well as to discuss and work towards a faster and better economic recovery.

Year-to-date, the fruits of China-Cambodia economic and trade cooperation have been “remarkable”, with bilateral trade reaching $4.990 billion in the first five months of this year, up 26.1 % year-on-year, he said. .

“It underscores that the strong resilience and mutual complementarity in economic and trade cooperation between the two countries have become a crucial element and a dynamic source of strength behind regional economic recovery and growth,” Wang said.

At the close of the workshop, Foreign Minister Prak Sokhonn called on all Cambodian diplomats to help publicize the new investment law to more foreign investors.

The minister called on Cambodian diplomats abroad to facilitate communication among investors interested in the Kingdom as well as improving related advisory services.

He said the EDGC had laid the groundwork to facilitate doing business in the Kingdom and boost the development of assorted investment programs, and called for more business-friendly business exhibitions and investment forums. local and foreign.

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