Minister for Commerce Jam Kamal Khan on Tuesday stressed the need to further deepen trade relations between Pakistan and Cambodia to fully realize their trade and investment potential for mutual economic benefit and social prosperity of both countries.
Jam Kamal, along with the Cambodian Commerce Minister, visited the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and addressed the business community, said a press release issued by the Ministry of Commerce. The FPCCI hosted a business engagement in honor of Cham Nimul, Minister of Commerce of the Kingdom of Cambodia, to promote Pakistan-Cambodia trade, investment, and private-sector linkages. He paid tribute to the resilience of Pakistan’s business community in the face of recent economic challenges, including high inflation, elevated interest rates and foreign exchange volatility.
The minister said Pakistan’s foremost challenge is now achieving sustainable growth, which hinges on improved competitiveness, higher investment, and greater fiscal space, adding that the upcoming federal budget would be critical to reducing the cost and improving the ease of doing business. Outlining Pakistan’s trade diplomacy strategy, he noted that official engagements are increasingly being paired with structured business-to-business forums and sectoral matchmaking, resulting in 60 to 70 business agreements during recent interactions. Highlighting key investment priorities, he identified gaps in naphtha cracking, steel, pharmaceutical APIs, refineries, and mineral processing, and said the government is preparing a comprehensive investment portfolio along with an upcoming MDI program to attract investment from partners including the Gulf, China, and the United States.