India-Cambodia Joint Working Group on Trade & Investment (JWGTI) 2024 Key Takeaways
The India-Cambodia Joint Working Group on Trade & Investment (JWGTI) 2024 discussions were held in person for the first time since the JWGTI was formalised in June 2024 - we look at some of the key takeaways from the meeting held in New Delhi
The second meeting in total (the first was held virtually in July 2022) focused on strengthening bilateral trade and investment ties with traditional medicine and e-governance, diversification of trade by identifying new products, a bilateral investment treaty, and recognition of the Indian Pharmacopoeia, and collaboration in the pharmaceutical sector all tabled.
The Unified Payment Interface (UPI) based digital payments to promote trade and tourism was discussed at the meeting in India, which was held the same week the first direct flights between Phnom Penh and New Delhi were launched by Cambodia Angkor Air on June 16, 2024.
Siddharth Mahajan, Joint Secretary, Department of Commerce, Ministry of Commerce and Industry, said the creation of mechanisms for cooperation and collaboration in sectors of mutual interest was a priority while the Cambodian delegation elaborated on investment opportunities in Cambodia for Indian businesses. Both parties agreed on the need for increased interaction to achieve mutual benefits.
1st Cambodia-India Tourism Year
On June 17 , 2024, “1st Cambodia-India Tourism Year” was also officially launched in New Delhi with the ceremony attended by Manisha Saxena, Director General (Tourism), Ministry of Tourism, India, and Long Phirum, Secretary of State, Ministry of Tourism, Cambodia.
Phirum referred to “Cambodia-India Tourism Year” as a “significant milestone", while Mohan Gunti, a tourism advisor based in Cambodia added, “ Now we have a direct connectivity between Cambodia and India, thus giving more opportunities between the two nations, which we know can unlock growth and serve communities through economic and social transformation.”