Kazakhstan Eyes Boost in Trade with Cambodia, Targeting USD 300m Milestone

• 12 September 2024
• Local News
• 696 Views

Kazakhstan has announced an ambitious plan to expand its trade with Cambodia to USD 300 million, with a longer-term goal of reaching USD 1 billion. This development followed a high-level meeting between former Prime Minister Samdech Hun Sen and His Excellency Kanat Tumysh, the newly appointed Ambassador of the Republic of Kazakhstan, on 5 September 2024.

During the meeting, Ambassador Kanat Tumysh acknowledged the modest trade volume between the two nations but emphasized Kazakhstan’s commitment to significantly elevating it. He highlighted plans to boost bilateral trade to USD 300 million in the near term and ultimately aim for USD 1 billion.

In addition to trade, the Ambassador proposed cooperative ventures in the health sector, particularly focusing on vaccine production and preventive health measures.

Ambassador Tumysh also suggested a visa waiver agreement for holders of official and diplomatic passports, which was met with support from former PM Hun Sen. Further discussions covered the possibility of an investor protection agreement and mechanisms to prevent duplicative efforts, which would be explored by both countries’ Ministries of Foreign Affairs.

Beyond trade, future plans include establishing direct flights between Kazakhstan and Sihanoukville, along with integrating high-speed rail lines connecting Cambodia and ASEAN countries with the China Silk Road initiative and broader regional trade corridors.

This promising collaboration marks a significant step toward stronger ties between the two countries, fostering greater economic and diplomatic exchanges.

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