Russia has expressed interest in working with the Cambodian embassy in Moscow to organise a series of events aimed at promoting the potential of direct investment in Cambodia, as well as encouraging more Russian tourists to visit the Kingdom.

The initiative was proposed by Sergey Dvoryanov, president of the International Diplomatic Club “Amicability”, during a May 4 meeting with Cambodian ambassador to Russia Pich Khun Panha. Also in attendance was Hong Samedy, commercial attaché at the embassy.

Dvoryanov and the Russian delegation expressed interest in partnering with the embassy to organise events aimed at attracting Russian investors to explore opportunities in Cambodia. The goals include promoting Cambodia’s cultural heritage, showcasing Cambodian products through exhibitions, promoting the Russian healthcare sector and highlighting Cambodia’s tourism destinations to attract more Russian visitors.

The ambassador welcomed the interest of Russian companies and described the Cambodian government's efforts to enhance the Kingdom’s business climate.

On April 28, Cambodia and Russia held the 11th session of the Cambodia-Russia Intergovernmental Commission (IGC) via video conference.

The session was co-chaired by Minister of Foreign Affairs and International Cooperation Prak Sokhonn and Russian Minister of Agriculture Oksana Lut. The purpose of the session was to strengthen trade, economic, scientific and technical cooperation between the two countries.

During the session, Sokhonn highlighted the importance of strengthening bilateral Cambodia-Russia cooperation and encouraged the full and timely implementation of previously signed agreements and memoranda of understanding to maximise mutual benefits.

He identified three priority sectors where both parties are committed to deepening cooperation: trade, energy and industry, and human resource development in Cambodia.

“In the areas of trade and investment, I invite Russian business leaders, entrepreneurs and investors to explore the Cambodian market, especially in sectors such as agriculture and food products,” he said.

“I also propose that both sides consider organising a joint business forum or trade exhibition as a platform for networking, matchmaking and joint business ventures,” he added.

After extensive discussions, the meeting agreed on a set of action items to enhance cooperation in key sectors, including the economy, trade, investment, energy and natural resources, industry, transport, technology, telecommunications and information, finance and banking, education, culture and sports, health and the environment.

The Ministry of Commerce's 2024 annual report noted that Cambodia and Russia are preparing to sign a protocol between the customs services of the two countries. This protocol, initiated by the Russian side, focuses on cooperation in customs administration, information exchange and mutual assistance, and is expected to boost bilateral cooperation under the Eurasian Economic Union’s preferential tariff system.

According to the Ministry of Tourism, in 2024, 71,901 Russian nationals visited Cambodia, a decrease of 15.7% compared to 2023.