Dear Members,
I am delighted to share with you the successful outcomes of our recent trip to Phnom Penh, Cambodia, a trade delegation led by the Cambodian Ambassador to Australia His Excellency Dr. CHEUNBORAN Chanborey (pictured below).
Our discussions in Phnom Penh were incredibly progressive, informative and forward-thinking. Throughout the week, we were afforded privileged and rare access to more than a dozen Government Ministers and industry leaders along with many other stakeholder discussions.
The highlight was the honour bestowed upon Geelong Chamber of Commerce invited to represent the delegation and address Prime Minister Hun Manet himself.
Why Cambodia?
This visit was a pivotal step in forging international investment opportunities and expanding our region’s economic horizons through the highest levels of Cambodian Government and business community leaders.
(The President of the Cambodian Chamber of Commerce, Kith Meng with the delegation.)
Our advocacy for Geelong was consistently presented as a major player in many industries, with special interest received in our manufacturing, education, agriculture, agri-food production, clean economy, start-up, and tourism sectors. Many of those sectors we experienced first-hand through immersive experiences throughout Phnom Penh and in the regions.
By leveraging these new international connections, we aim to enhance our region’s profile and drive substantial economic growth discussions.
The Geelong Chamber of Commerce is uniquely positioned within the region to continue leading international engagements, and our journey to Cambodia has underscored the immense potential of such endeavours.
Benefits to Geelong
Continued international relations with countries such as Cambodia can bring significant benefits to Geelong, including:
- Enhanced Trade Opportunities: Opening up new markets for Geelong businesses to export their products and services.
- Attraction of Investment: Drawing foreign investors to our region, boosting economic activity, and learning from the highly attractive international investment incentive models that international countries can offer.
- Strengthening Our Economy: Diversifying our economic activities and reducing reliance on domestic markets.
- Education and Innovation: Learning from Cambodia’s rapid development and innovative approaches, particularly within clean the economy sector and transition to renewable energy.
- Global Recognition: Positioning Geelong as a forward-thinking, globally connected city with vast export and outreach opportunities to commoditise our IP as leaders on the world stage.
(presenting our gift, produced by Wathaurong Glass to the Minister of Commerce, Cham Nimul)
(Deputy Ambassador of Australia to Cambodia, Andreas Zerbrugg, hosting the delegation and Cambodian-based Australian business leaders).
(Jeremy Crawford with the Deputy Ambassador of Australia to Cambodia, and the Ambassador of Cambodia to Australia.)
Synergies Between Geelong and Phnom Penh
Our discussions in Phnom Penh highlighted several synergies between our regions:
- Growth: Cambodia is a country in the midst of a rapid investment and development phase and one of the fastest growing economies in South East Asia. Geelong is one of the fastest growing regions in Australia with both focusing on progressive infrastructure design and growing a mix of industries in sync to accommodate increasing populations.
- Agriculture: Both regions have a strong agricultural base. By sharing best practices and technologies, we can boost productivity and sustainability.
- Technology Start-ups: Cambodia’s burgeoning tech scene offers opportunities for collaboration and investment, particularly in fintech and agri-tech sectors.
- Advanced Manufacturing: Geelong’s expertise in advanced manufacturing can complement Cambodia’s growing industrial sector, fostering innovation and growth.
- Clean Economy: Cambodia’s commitment to transitioning to 100% carbon neutrality by 2050 through significant investments in renewable energy infrastructure aligns with our region’s goals of promoting a clean economy.
- Tourism: Both Geelong and Phnom Penh offer unique tourism experiences. By developing joint tourism initiatives, we can attract visitors from both regions, boosting local tourism industries and fostering cultural exchange.
- Professional Chamber Advocacy: Both regions have professional chambers that play a vital role in business advocacy. Collaborative efforts between our chambers can lead to stronger, more effective advocacy on behalf of our members and expand our network of opportunities.
(presenting our gift, produced by Wathaurong Glass to Mr Kith Meng, President Cambodian Chamber of Commerce).
Why International Opportunities Matter
Creating international investment and collaboration opportunities is crucial for our region’s growth and prosperity. By fostering global connections, we open doors to new markets, attract foreign investment, and stimulate innovation.
The week-long discussions focused on:
- Economic Diversification: Broadening our economic base by tapping into new industries and markets.
- Knowledge and Technology Transfer: Gaining access to new technologies and expertise that can enhance our local industries, through education providers and facilitated industry partnerships.
- Increased Competitiveness: Positioning Geelong as a key player on the global stage, enhancing our competitive edge in key industries and markets.
Future Plans
Firstly, we have returned with tangible trade opportunities. My presentation of our experience to PM Hun Manet (pictured below) highlighted the delegation’s prioritised interests and with endorsement from several Ministries and the Cambodian Prime Minister, we are swiftly contacting the relevant Geelong-based organisations with discussions commencing immediately.
Looking ahead, we will work closely with our direct Cambodian contacts, the Australian Embassies in both countries, and the Department of Foreign Affairs and Trade to identify and communicate investment and value-adding opportunities into our region.
Deep relationships established with government and industry officials have created pathways for those looking to import from, export to, or set up operations in Cambodia to expand or diversify their business or utilise additional Free Trade Agreements throughout ASEAN networks.
Maximising Our International Engagement
Our future commitment extends beyond Cambodia to include strong engagement with other ASEAN countries and leveraging the opportunities presented by the Regional Comprehensive Economic Partnership (RCEP). For example, The Geelong Chamber’s progressive talks continue with Vietnam and by fostering these additional relationships, we aim to create a vibrant network of international connections that benefit our members through enhanced economic development and investment opportunities.
(Jeremy Crawford presenting to Prime Minister Hun Manet inside the Peace Palace, Phenom Penh, also known as the Office of the Prime Minister).
To maximise these opportunities, it is imperative we drive a robust international engagement strategy for the region and more importantly, lead with tangible action. There is a very real scenario that other countries within our region will progress ahead of us if we don’t capitalise on current opportunities.
Our recent efforts have established economically beneficial relationships with the focus on investment between Geelong and international markets.
Additional trade missions to explore and establish new business connections, investment forums that bring together investors and local businesses, and partnership agreements with international chambers and business groups to facilitate collaboration will provide additional opportunities to ensure that our global reach has local impact.
Cultural exchange programs will promote cultural understanding and cooperation through our world class University and Vocational providers, whilst facilitating knowledge exchange programs with institutions in fast-developing countries like Cambodia can leverage industry learning and innovation.
Leading the Way
The Geelong Chamber of Commerce is ideally placed to progress these international engagements. With our extensive and growing network of international contacts and affiliate organisations, expertise, and commitment to our members, we are dedicated to driving economic growth and prosperity for our region, championing local excellence, with global prominence.
Thank you for your continued support and engagement. Together, and with global vision, we can expand horizons to drive local business success.
Warm regards,
Jeremy Crawford
CEO, Geelong Chamber of Commerce
