India and Cambodia Forge Digital Payment Alliance to Boost Trade & Tourism

India and Cambodia are negotiating to implement UPI-based digital payments to promote trade and tourism. Discussions also covered diversification of trade baskets, a bilateral investment treaty, and collaboration in the pharma sector. The second meeting of the JWGTI emphasized deepening bilateral relationships and identifying new investment opportunities.

PTI | New Delhi | Updated: 20-06-2024 14:32 IST | Created: 20-06-2024 14:32 IST
India and Cambodia Forge Digital Payment Alliance to Boost Trade & Tourism
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In a significant move to strengthen bilateral relations, India and Cambodia are negotiating the implementation of UPI-based digital payments aimed at boosting trade and tourism, as revealed by the Commerce Ministry on Thursday.

Both nations delved into diversifying their trade baskets by identifying new products and discussed a bilateral investment treaty and collaboration in the pharmaceutical sector. This formed part of the agenda during the second meeting of the India-Cambodia Joint Working Group on Trade and Investment (JWGTI) held on Wednesday.

The JWGTI discussed progressing collaboration on UPI-based digital payments to enhance trade and tourism, and opportunities for Indian businesses in Cambodia. This meeting, the first physical one after the group was institutionalized, marks a key step forward.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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