Ministry of Commerce and Japan External Trade Organisation (JETRO) have updated a memorandum of understanding (MoU) to further expand bilateral cooperation in economy and trade and to attract more Japanese investors to Cambodia.

The move was made when H.E. Pan Sorasak, Minister of Commerce received a courtesy call from Ms. Dr. Yuri Sato, Executive Vice Director of JETRO, at the ministry office yesterday.

H.E. Pan Sorasak mentioned about importance of the agreement to further strengthen cooperation in trade, investment, and industrial development in order to create comprehensive partnership between the ministry and JETRO.

H.E. Minister also praised JETRO’s contribution to Cambodia’s development, such as business matching and analysis, trade expos, facilitation for Japanese and Cambodian companies, training provision to officials and private sector, and dissemination of favorable business environment and investment potential in Cambodia to Japanese businessmen.

Ms. Dr. Yuri Sato spoke highly of reform programmes of the Royal Government of Cambodia to attract more foreign direct investments (FDI), especially cooperation and facilitation of the commerce ministry for Japanese businessmen.

Ms. Dr. Yuri Sato also informed the minister about JETRO’s operation to boost innovation and digital technology startup.

Bilateral trade cooperation between Cambodia and Japan was minimally recorded in 2009, yet it saw an increase to some US$1.6 billion in 2018.