- Your Excellency Mikayil Jabbarov, Minister of Economy of the Republic of Azerbaijan;
- Excellencies, Ladies and Gentlemen!
It is my great pleasure to address Cambodia–Azerbaijan Business Forum. On behalf of the Royal Government and people of Cambodia, I extend my warmest greetings to His Excellency Mikayil Jabbarov, high-level delegation, and all distinguished business leaders and investors. I also wish to express my deep appreciation to Ministry of Commerce of Cambodia, Ministry of Economy of Azerbaijan, our respective Embassies, and the Chambers of Commerce for jointly organizing this important event. The presence of Cambodian and Azerbaijani business leaders today reflects the private sector’s keen interest in expanding trade, investment, and economic cooperation between our two nations.
This Forum takes place amid rapid global changes that are reshaping supply chains and investment decisions. In this context, Cambodia and Azerbaijan remain committed to strengthening cooperation and leveraging our complementary strengths, with bilateral relations gaining momentum in trade, investment, tourism, connectivity, and people-to-people exchanges.
Allow me to recall the historic Official Visit of Samdech Akka Moha Sena Padei Techo HUN Sen, Former Prime Minister of the Kingdom of Cambodia, to Azerbaijan in April 2014. This laid the foundation for strengthening and expanding cooperation between our two countries.
Today, President Aliyev and I, witnessed the signing of the Framework Agreement on Trade and Economic Cooperation and the Agreement on Elimination of Double Taxation, which provides an important basis for strengthening our economic partnership and exploring new avenues for mutually beneficial cooperation.
- Excellencies, Ladies and Gentlemen!
Economic cooperation between Cambodia and Azerbaijan is in an early stage. There is room for improvement. Our focus should be on broadening the range of products and services traded, encouraging greater business-to-business engagement, and exploring new areas of investment and economic cooperation.
I am confident that, with stronger engagement from both the public and private sectors, Cambodia and Azerbaijan can unlock our full economic cooperation potential and build a more dynamic and mutually beneficial partnership.
On the investment front, there is a need to promote better understanding on each country’s business environment and opportunities. This Business Forum provides an opportune platform to increase mutual understanding between Cambodian and Azerbaijani businesses.
Cambodia and Azerbaijan offer complementary economic profiles that present strong potential for commercial synergy. While Azerbaijan excels in energy, petrochemicals, renewables, agri-tech, logistics, and digital infrastructure, Cambodia brings a dynamic manufacturing sector, a vibrant agriculture sector, a young and adaptable workforce, expanding clean energy adoption, and favorable preferential trade access across regional markets. By uniting these comparative advantages, we can create a dynamic ecosystem where our businesses thrive together.
As Cambodia and Azerbaijan embark on a new chapter of economic cooperation, allow me to highlight the tangible benefits that Cambodia offers to investors:
First, Dynamic Labor Force: Cambodia’s labor force is young, dynamic, fast-learning, and tech-savvy, with 60% of the population under the age of 35.
Second, Pro-Business Environment and Incentives: Cambodia’s business environment is liberal and investor-centric, providing generous, tailored incentives up to 12-year tax holidays, and allowing 100% foreign ownership with no restrictions on the remittance of profit or capital. The Royal Government has also implemented reforms, including streamlined regulations and enhancing the roles of the Council for the Development of Cambodia (CDC) as a single window for investment applications.
Third, Government’s Robust Support: We place great emphasis on the continued success of investors, including through aftercare services provided by the CDC, and maintains regular consultation mechanisms to address investors’ concerns. These mechanisms include the Government-Private Sector Forum, chaired by the Prime Minister, as well as consultative dialogues between the CDC and foreign business associations and embassies.
Fourth, Strategic Location and Connectivity: Positioned at the heart of ASEAN, Cambodia offers convenient and cost-effective transport and logistics connectivity across the region. Our substantial investment in infrastructure and transport systems, including the ongoing construction of Funan Techo Canal, will further reduce logistic costs and optimizes business operations.
Fifth, Regional and Global Market Access: As a member of ASEAN and a participant in RCEP, Cambodia provides extensive access to growing regional markets. Cambodia’s bilateral FTAs with China and South Korea, and our Comprehensive Economic Partnership Agreement (CEPA) with United Arab Emirates further amplify these advantages.
Sixth, Sustainable Energy and Green Growth: Cambodia is also committed to sustainable energy. As of July 2026, Cambodia achieved 63% renewable energy use. We aim to achieve the target of 70% by 2030 and carbon neutrality by 2050. Hydropower, solar, and wind power are key components of this plan.
- Excellencies, Ladies and Gentlemen!
Before concluding, I wish to reiterate that there is immense untapped potential for Cambodia and Azerbaijan to expand our economic partnership by drawing on what each of our nations does best.
Geographical distance is no longer a barrier when we share a common vision for growth and prosperity. I look forward to seeing discussions translate into tangible outcomes, including business visits, strategic partnerships, formal agreements, and concrete investment projects in 2027 and beyond.
In closing, I extend a warm invitation to all Azerbaijani investors to seize the abundant opportunities within Cambodia’s dynamic and rapidly growing market. The Royal Government of Cambodia is committed to facilitating your investment journey through our supportive and guiding mechanisms, ensuring a smooth and successful experience.
Finally, I wish the Cambodia-Azerbaijan Business Forum a resounding success, fostering new partnerships, investment projects, and business opportunities for our two countries, as well as our people. I wish you all good health and prosperity in your endeavors.
Thank You!