Commerce Ministry of India and Ministry of Commerce of Cambodia organized the 5th India-CLMV Business Conclave in Phnom Penh on 21-22 May 2018. 

After four rounds of the Business Conclave in India, this initiative was brought by Department of Commerce of Government of India to Cambodia,for greater participation from the region.

The Confederation of Indian Industry (CII) is the institutional partner of the event.

The inaugural session was followed by plenary and country sessions which focussed on sectors such as SME, manufacturing, agriculture, plantation, fisheries and related industries, healthcare, education, information technology and skill development.  

The business conclave provided an opportunity for developing better understanding of CLMV economies which have untapped potential for development and which offer more scope for enhancement of economic engagement with India. 

Speaking at the event, Commerce Minister Suresh Prabhu emphasised the need for strengthening India CLMV business and trade relations.

He highlighted the need for greater connectivity, promoting small and medium enterprises, harnessing the opportunities in service sector especially health care, tourism, transportation, and logistics. 

He stressed upon the need to promote productivity and value addition in agriculture to address livelihood and employment issues.

The Commerce Minister urged the Indian business leaders to make more investments in the CLMV region, considering that it is a gateway to the entire ASEAN and provides an access to the huge markets of these countries.

He also proposed setting up of similar bilateral business forums in Vietnam and Laos. Suresh Prabhu also announced expanding funding support to theIndia CLMV business conclave and for holding India CLMV business expositions every year beginning from next year

In his inaugural address, Deputy Prime Ministerof Cambodia, appreciated India's efforts in organising the 5th India CLMV Business conclave in Cambodia and called for collaboration of CLMV countries and India on agriculture, health, tourism, education and connectivity for promoting regional integration and creation of value chain.