Secretary of State of the Ministry of Commerce discusses Cambodia-Hungary economic cooperation

Lok Chumteav Tekreth Kamrang, Deputy Secretary of State of the Ministry of Commerce, and her colleagues received a working meeting with H.E. István Joó, Under Secretary of State of the Ministry of Foreign Affairs and Trade of the Republic of Hungary, with the participation of H.E. Csaba ŐRY, Ambassador of Hungary to Cambodia, Residence in Hanoi, accompanied by Mr. ZOLTÁN GYÖRGY HORVÁTH, Acting Charge d'Affaires of the Representative Office in Phnom Penh via video conference.

To begin with, the Secretary of State expressed her warm welcome and pleasure in being able to hold this video conference, even in the COVID-19's. Lok Chumteav also informed about the improvement of the situation of COVID-19 in Cambodia and believed that all countries will work together to overcome the problems caused by COVID-19.

The Hungarian side expressed its intention to strengthen cooperation in key areas, including:

Agriculture, agro-industry, irrigation management, education and e-commerce and informed the meeting about the two draft memorandums of understanding related to agriculture and irrigation management, and the Aviation Services Agreement, which is scheduled to be signed during the senior leaders' visit to Cambodia.

The Cambodian side supported the identification of the 24 priority areas contained in the Agreement on Economic Cooperation between the Royal Government of Cambodia and the Government of Hungary signed on 13 June 2019 in Hungary and promote further cooperation. These priority sectors include: (1) business promotion, (2) e-commerce, (3) small and medium enterprises, (4) agriculture, (5) tourism, and (6) banking and finance.

Finally, the two sides pledged to continue cooperation to achieve the common goal of increasing trade volume through the organization of business and investment forums, trade fairs and business meetings. The two sides also expressed satisfaction over the preparations for the first meeting of the Joint Commission on Economic Cooperation between Cambodia and Hungary, which is scheduled to be held on November 30 and December 1, 2020 in Cambodia as well.(Source: MOC)