Indian Prime Minister Wishes to Increase Trade Volume to US$200 Billion in 2022

image001Cambodian Foreign Minister H.E. Hor Namhong has said that Indian Prime Minister Dr. Manmohan Singh intended to increase the image002trade volume between the ASEAN member countries and India to US$200 billion in 2022.

Foreign Minister H.E. Hor Namhong was speaking at a press conference last Friday following the return from India of the Cambodian delegation led by Samdech Akka Moha Sena Padei Techo Hun Sen, the Prime Minister of the Kingdom of Cambodia after attending the ASEAN-India Commemorative Summit.

Prime Minister Samdech Techo Hun Sen proposed in the summit to promote ASEAN-India relations to become strategic relations in line with the Vision Statement of ASEAN-India Commemorative Summit, and to increase trade volume to US$100 billion in 2015 from US$70 billion in 2011, H.E. Hor Namhong, who is also Deputy Prime Minister, said.

For his part, Indian Prime Minister Dr. Manmohan Singh wished to increase the trade volume between India and the ASEAN member countries to US$200 billion in 2022, and to further strengthen the relations with the ASEAN.

Prime Minister Samdech Techo Hun Sen requested India to continue building the existing Highway to further link India to Myanmar, Thailand, Laos and Cambodia; and the second Highway to connect India with Myanmar, Laos and Cambodia.

He also requested India to support the ASEAN integration initiatives to achieve the establishment of ASEAN Community in 2015.

ASEAN-India Trade and Investment agreement was also signed to promote India’s investment in the ASEAN, including the direct flights from India to ASEAN countries, especially to Siem Reap of Cambodia.

India promised to set up the ASEAN-India Cultural Center, and at present India provides US$5 million to restore Prasat Ta Prohm, and in the future India will continue restoring some other ancient temples in Cambodia.

In the name of the ASEAN Chair, Prime Minister Samdech Techo Hun Sen took part with Indian Prime Minister Dr. Manmohan Singh in the closing ceremony of ASEAN-India Car Rally.

During a bilateral meeting, Indian Prime Minister Dr. Manmohan Singh approved Prime Minister Samdech Techo Hun Sen’s request for India to provide US$57 million concessional loan to Cambodia for two projects:  the connection of power supply from Kratie province to Stung Treng province; the construction of irrigation network at Svahap River, and agreed to provide scholarships to 100 Cambodian students to study in India in 2012-2013.

During his stay in India, Prime Minister Samdech Techo Hun Sen met with two major Indian companies – Ruchi Soya Industries Limited and Angelique Group – which plan to invest in Cambodia.

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