The Canadian embassy’s David Verbiwski (second from left) and Hun Lak (second from right), secretary-general of the Cambodian Oknha Association (COA), during their January 15 meeting. Supplied
A Canadian business delegation is scheduled to visit Cambodia at the end of May. Made up of representatives of approximately 80 major North American companies, the attendees aim to explore partnerships and investment opportunities in the Kingdom.
They have requested support and collaboration from the Cambodian Oknha Association (COA) in organising several business events to provide opportunities for businesses from both countries to establish connections.
David Verbiwski, chargé d’affaires of the Embassy of Canada in Phnom Penh, shared details of the planned visit during a January 15 preliminary meeting with Hun Lak, COA secretary-general, at the association's office in Phnom Penh.
Men Bun Leng, the embassy’s trade commissioner, also attended the meeting.
According to the COA, the meeting was organised to strengthen relations and cooperation between the two institutions and to discuss preparations for receiving the Canadian delegation on May 29-30.
Verbiwski requested the association’s support and collaboration in organising events, adding that the COA is an important force in promoting business activities and economic growth in Cambodia.
Lak briefed his counterparts about the vision, mission and key activities of the association, which serves as a partner to the government in promoting economic growth, trade, investment and other activities for the betterment of the nation.
In late September 2024, during an official visit to Canada to promote Cambodia's investment climate, Sun Chanthol, first vice-president of the Council for the Development of Cambodia(CDC), highlighted that Cambodia, as a small but open country, welcomes investments from all directions in accordance with its investment law, without any discrimination or differentiation between countries.
He also pointed out that, in addition to the Kingdom’s links to markets within the ASEAN region, the country benefits from several regional agreements like as the Regional Comprehensive Economic Partnership (RCEP), as well as trade preferences through the US' Generalized System of Preferences (GSP) and the EU’s Everything But Arms (EBA) initiative.
Cambodia Chamber of Commerce (CCC) vice-president Lim Heng told The Post that Canada is a is a large market for Cambodia, particularly for products like apparel, footwear, travel bags and bicycles, with exports reaching several hundred million dollars annually.
He added that to expand this market, the CCC has opened a representative office in Toronto, Canada, which helps promote Cambodian products to Canadian customers and provide information to attract Canadian investors.
“Canada is a growing country with limited investment in the garment sector, so it represents an opportunity for Cambodia to increase exports to the Canadian market. The value of Cambodian exports to Canada will continue to rise every year,” he continued.
According to Heng, Canada also exports vehicles and electronics to Cambodia.
The General Department of Customs and Excise of Cambodia (GDCE) reported that in 2024 Canada was Cambodia's 6th largest trading partner, following China, the US, Vietnam, Thailand and Japan.
In 2024, bilateral trade between Cambodia and Canada reached $1.17 billion, a 24.6% increase from 2023, with Cambodian exports to Canada amounting to $1.11 billion (up 27.6%) and Canadian imports to Cambodia totalling $61.7 million (a 13% decline).
