'Cambodia best ASEAN market for Indian SMEs'

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SME Times News Bureau | 10 Dec, 2012
Cambodia has recorded a growth rate of 10 percent since the last 10 years, and the time is right for the Indian small and medium enterprises (SMEs) to look at Cambodia as its key partner for accessing the ASEAN marke, Ambassador of India in Cambodia, Dinesh Patnaik said recently.

Speaking at the Business Marker event - Small Business- Big Opportunities, in Phnom Penh, Cambodia, Patnaik viewed that Indian SMEs should look at the opportunity to be a part of Cambodian growth story.

The Business marker event was organised jointly by the FASMEC and the Embassy of India, in Cambodia, earlier today. It coincides with the visit of the SME Delegation to Cambodia and the second edition of the ASEAN-India Car Rally in 26 November-20 December 2012, organized jointly by CII along with the Ministry of External Affairs, Government of India.

Addressing the Business Marker event, Phok Sovannarith, Secretary of State, Ministry of Industry, Mines & Energy said that the India Cambodia relationship is based on mutual respect and cooperation.

Seeking support and cooperation of the SMEs from India, he mentioned that the Cambodian SMEs look upto the India to study their best practices and develop a globally competitive Cambodian Enterprises.

K K M Kutty, Leader of the CII SME delegation to Cambodia and Past Chairman, of the CII National MSME Council, earlier reiterated CIIs commitment to guide the Enterprise to Enterprise cooperation, between India and Cambodia.

SME represent a good low-investment high-return opportunity for Cambodian SME, who can source niche products from India. Indian SMEs are flexible, reliable, quality conscious, and adaptable. Intellectual property rights are well-respected in India as well, he added.

Earlier, speaking on the occasion, President of the Federation of Association for Small and Medium Enterprises of Cambodia (FASMEC), Oknha Te Taing Por, mentioned that for Cambodian enterprises, it is useful seek cooperation with the Indian SMEs, as there are many sectoral synergies between the two sides.

The highlights of the Business marker event were the two (2) MoUs signed by CII with â FIRST, Federation of Association for Small and Medium Enterprises of Cambodia (FASMEC); & SECOND, Indian Chamber of Commerce (ICC).The institutional arrangement between CII & FASMEC and between CII & ICC, will enable the growth of trade and commerce between India and Cambodia.

In addition, the Business marker event focussed on Women Entrepreneurship, by bringing together the Women Entrepreneurs from India and Cambodia. This underlines the vital role assumed by the Women Entrepreneurs for the
development of national economies in both the nations.

During the discussions at the Business marker, opportunities in the following sectors were stressed upon, between India and Cambodia in the SME domain : Agro-industries, Agricultural equipments, Rice Mills and equipments, Food Processing, Sea Food, Hand and Machine Tools, Industrial Vocational Training / IT education / Engg & Medical, Textiles, Auto components, Logistics, Packaging and Railway equipment & construction / consultancy and Construction material.

It is envisaged that the visit of the CII SME delegation to Cambodia will lead to cooperation in FOUR key areas : 1.) Capacity building 2.) Database Management 3.) Exchange of SME delegations and visit to Trade Fairs; & 4.) Collaborations with the CII Center for Excellence (CoEs) for R & D and Testing facilities. These would facilitate the enhancement of competencies of the Cambodian Enterprises through Joint Ventures and Technology transfers.

India and Cambodia enjoy strong and warm relations based on ancient civilisation bonds. Hindu and Buddhist linkages go back to the 4th century, and Cambodiaâs famous Angkor Vat temple complex and other major sites are living testimony to these early contacts, according to CII.