Azerbaijan and Cambodia intends to establish solid economic cooperation, Azerbaijani Deputy Minister of Economy and Industry Sahil Babayev said at the Azerbaijan-Cambodia Business Forum in Baku on April 22.

“Diplomatic relations between the two countries were established 12 years ago,” he said. “Both countries have come a long way in development over these years. They have gained considerable potential for mutually beneficial bilateral cooperation. I am sure that today’s forum will not be the last one. It will contribute to the strengthening of economic cooperation between the entrepreneurs of the two countries. The representatives of more than 40 local companies from all sectors of the economy attend the forum from the Azerbaijani side. We are confident that the existing potential must be and will be implemented.”

“Cambodia is interested in attracting Azerbaijani investments and establishing lasting business cooperation,” minister of commerce, deputy head of the Cambodian Development Council Sun Chanthol said.

“We exported goods worth $ 0.5 million to Azerbaijan and imported goods worth $7.7 million in 2012,” the minister added. “In 2013, the volume of Cambodian exports to Azerbaijan was generally equal to zero. We imported Azerbaijani goods worth $ 3.2 million. We held the meetings with the Azerbaijani leadership. All sides expressed their willingness and interest in developing cooperation and establishing trade relations. We hope that we will be able to achieve a trade turnover worth $ 100 million in 2015.”

The Azerbaijani-Cambodian business forum is held as part of the visit of a representative delegation headed by Cambodian Prime Minister Hun Sen.