Cambodia-Israel Chamber of Commerce, a bi-national business association with the mission of increasing economic development by fostering understanding, cooperation, and business relationships between Israel and Cambodia, was inaugurated last week in Phnom Penh.
Tzahi Selzer, the Israeli economic and trade attaché in Bangkok said that the inauguration is part of an Israeli effort announced last year to expand economic and political ties with Cambodia. Selzer added that “There is huge interest in Cambodia in Israel.
Israeli-Cambodian trade and investment is rather small, and only about 30 Israelis live in Cambodia, said the embassy.
In 2008 Israel was ranked the fourth-largest foreign investor in Cambodia in terms of value of projects approved, with 2.75% of total investment, or US$300 million, according to Cambodian Investment Board figures.
Israel’s export to Cambodia in 2009 was up 97% from US$631,000 in 2008 to US$1.25 million. Although level of trade is low the potential is high and create a great deal of interest among Israeli business firms.