India, Cambodia discuss investment treaty, UPI collab: Commerce ministry

India and South East Asian nation Cambodia are negotiating collaboration in UPI-based digital payment to promote trade and tourism, the commerce ministry said on Thursday.

Both sides also deliberated upon diversification of the trade basket by identifying new products, bilateral investment treaty, recognition of Indian pharmacopoeia and collaboration in the pharma sector.

These issues among others were discussed during the second meeting of the India-Cambodia Joint Working Group on Trade and Investment (JWGTI) here on Wednesday.

Pharmacopoeia is a set of standards and quality specifications for ingredients, preparation and dosage forms of medicines manufactured, sold, consumed and exported in a country.

Indian Pharmacopoeia Commission (IPC) is an autonomous institution under the Ministry of Health and Family Welfare which sets standards for all drugs that are manufactured, sold and consumed in India.

"The meeting discussed the progress of the ongoing efforts for collaboration in .