LocationsRemarks by Ms. Alissar Chaker, Resident Representative, UNDP Cambodia
• Excellency PENN Sovicheat, Secretary of State, Ministry of Commerce,
• Representatives of the Royal Government of Cambodia,
• Colleagues and Distinguished Guests,
Good morning, Chom reap sour.
Cambodia has achieved remarkable socioeconomic progress over the past two decades, leading to the recommendation for its graduation as a Least Developed Country in 2029, following a five-year preparatory period. This testifies to Cambodia’s significant achievements, but it also presents a series of challenges and opportunities that require anticipation, timely preparedness, and joint efforts by all the government and society at large.
Excellencies, Partners, and Distinguished Guests.
As Cambodia rapidly approaches graduation as a Least Developed Country, promoting sustainable business practices is becoming increasingly important to accelerate the needed transformations, understand the long-term risks and opportunities associated with investments, and ensure continued access to international markets. It also presents a unique opportunity to rebrand the country as a responsible trade partner. This means encouraging businesses to operate in ways that, at a minimum, meet fundamental responsibilities in the areas of human rights, labour, environment and good governance. Responsible businesses uphold the same values and principles, ensuring they meet their basic responsibilities towards people and the planet wherever they operate and exercise due diligence to prevent good practices in one area from causing harm in another. Responsible business practices are about ensuring that the activities of businesses and investors align with the needs of society, both now and in the future.
Recognising the importance of responsible practices for business resilience and sustainable socio-economic progress, ASEAN and its member states proactively promote responsible business conduct. They achieve this through their Guidelines for the Promotion of Responsible and Inclusive Business in ASEAN, their various online platforms, networks, and alliances for responsible business and Corporate Social Responsibility, as well as the ASEAN Sustainable Finance Taxonomy, among other initiatives.
Moreover, many ASEAN member states, including Indonesia, the Philippines, Thailand, and Vietnam, have developed and are implementing their national action plans to promote responsible business, aligning with the United Nations Guiding Principles. Others, such as Laos and Malaysia, are at different stages of progress in elaborating their national action plans.
Excellencies, Partners, and Distinguished Guests.
The international business landscape is changing. Various international markets and multilateral free-trade agreements require parties to adhere, to varying degrees, to human rights, international labour standards, environmental sustainability, and social responsibility. This requires multi-stakeholder and multi-sector transformations, which take time. The timely adoption of responsible business practices is not only an ethical but also an intelligent business decision.
Today’s learning workshop will provide key insights into responsible business practices, policy instruments, and potential implications for Cambodian trade. It falls within the framework of a larger UN/UNDP support to the Royal Government of Cambodia for preparing its smooth LDC graduation. It complements ongoing work on green and sustainable trade and value chains to ensure continued access and competitiveness of Cambodian exports in international markets.
Excellencies, Partners, and Distinguished Guests.
UNDP remains committed to supporting Cambodia throughout this transition, working closely with national and international partners to accelerate human capital development, economic diversification and trade competitiveness.
Taking this opportunity, I would like to thank the Ministry of Commerce for its leadership in navigating this complex process and the Government of Japan for its support in accelerating the adoption of responsible business practices in Cambodia, ensuring the kingdom remains on a progressive path of sustainable and inclusive development.
I wish you a productive and insightful learning workshop and a good continuation.
Thank you. Som Arkun!
