Ambassador to Thailand sees economic diplomacy paying off

[geovalin]

Cambodia Ambassador to Thailand Ouk Sorphorn, in a discussion with Khmer Times, stressed the important role economic diplomacy is playing in both developing countries in general and the Kingdom in particular. Cambodia, like other developing nations, has been under immense pressure from the Coronavirus pandemic but has also been vulnerable to the rise of global protectionist and unilateralist driven instincts and policies as the world economic order shifts.

 

He added that economic diplomacy is particularly important here because it can influence whether the large capital needs that support the diversification of economic growth and the drive towards achieving Cambodia’s vision for an upgrade in income status can be satisfied.  The Kingdom has set its sights on becoming a high-middle-income country by 2030 and a high-income country by 2050.

 

The ambassador said in 2018 Deputy Prime Minister Prak Sokhonn officially declared for the first time that an economic diplomacy focused on trade, investment, culture and tourism was one of the major tasks of the Ministry of Foreign Affairs and International Cooperation. Currently, the Cambodian embassy in Thailand provides business consulting services to Thai and foreign businessmen who wish to invest or expand the market in Cambodia, he added.

 

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