On the occasion of the 50th anniversary of the establishment of bilateral relations between Germany and Cambodia, Dr. Ingo Karsten, German Ambassador to the Kingdom of Cambodia, underlines the significance of the commercial and economic ties.
“Germany has a long-standing and friendly relationship with the Kingdom of Cambodia. This year we celebrate 50 years of diplomatic relations. The Kingdom of Cambodia has been an important partner country of our development cooperation in Southeast Asia since 1993. Looking at the future, economic diplomacy will gain importance in our overall relationship with Cambodia. Therefore, the German Business Group within the EuroCham plays an important role in fostering commercial and economic ties.
The bilateral trade is developing remarkably well, especially German exports to Cambodia. However, there is definitely more potential on both sides. Cambodia’s economy has been growing at a robust 7% and is forecasted to maintain this growth. A promising development to foster the economic upward trend is rooted in the ASEAN Community Integration, which will grant Cambodia access to new markets. The integration in the ASEAN Community also affects the diversity of Cambodia’s industry and lays ground for more productivity in various sectors.
I look very much forward to this further development and hope that the political and social framework remains conducive for trade and investment in the future”, said Dr. Karsten.