The Cambodian Embassy in Brunei Darussalam is holding on to the hope for the rejuvenation of trade relations between the Kingdom and the Sultanate.
In an interview yesterday, His Excellency Chhay Sokhan, Cambodian Ambassador to Brunei Darussalam, shared that agreements between the two nations are yet to pick up momentum particularly in the field of rice trade and travel.
After the first importation of Cambodian rice to the country following the signing of a Memorandum of Understanding, Brunei is yet to import more than the initial batch of 300 tonnes, he said.
“We aren’t sure why this is the case,” he lamented and added that Cambodian rice is widely exported to a number of other countries throughout the world including to Europe, Africa and parts of Asia.
Additionally, another partnership that was agreed upon under a direct flight MoU between Brunei and Cambodia is yet to take form but this, added the ambassador, could perhaps be due to the lack of travel demand between the two Asean member states.
However, despite these setbacks, the ambassador expressed his country’s interest in expanding partnerships with Brunei, commenting that, “We hope to develop partnerships in all fields of cooperation.”
As a developing nation, real estate in Cambodia is a potentially profitable venture for Bruneian’s looking to expand investments overseas.
“Real estate prices will increase once the market develops,” the ambassador added.
With Brunei looking to expand its Brunei Halal brand, he said Cambodia has sent its personnel to discuss projects with the Brunei government in this particular field and has even suggested the setting up of factories in Cambodia to facilitate the Halal initiative.
The investment climate in Cambodia, he added, ensures easy business transactions with particular emphasis on finance and banking transactions to and out of Cambodia, which he believes is an added incentive.