Cambodia, China vow to further step up trade ties
Cambodia, China vow to further step up trade ties
Cambodia and China Monday committed to further strengthening cooperation between the two countries in fields including economy, trade, agriculture, fisheries and rice corridors.
The commitment was made during a meeting between Prime Minister Hun Manet and Chinese Ambassador to Cambodia Wang Wenbin at the Peace Palace in Phnom Penh.
Congratulating Ambassador Wang on his appointment, Mr Hun Manet expressed optimism that during his diplomatic mission, Cambodia-China relations and cooperation will be further strengthened and expanded.
A statement posted on Mr Hun Manet’s social media read: “[He] believes that in His Excellency’s diplomatic mission, Cambodia-China relations and cooperation will be further strengthened and expanded.”
Ambassasor Wang also expressed his appreciation for the Royal Government of Cambodia’s (RGC) efforts to achieve new achievements for its people and country.
During the discussion, both sides hailed the decades-long strong relations between the two countries.
“Cambodian Prime Minister and Chinese Ambassador exchanged views and discussed ways to further strengthen and expand cooperation between the two countries in all fields including defence and security, energy, tourism, people-to-people connection, economy and trade, agriculture and cooperation, industrial and technological corridors, and fisheries and rice corridors,” the statement underlined.
In an interview with Khmer Times last Friday, Ambassador Wang went on record saying that in the first semester this year, 42 percent of Cambodia’s foreign direct investment is from China and from January to May, tourists from China have increased about 43 percent.
Ambassador Wang aims to boost the economic cooperation between Cambodia and China, which is a key catalyst to promote the mutual benefits of the two countries. He also wants to push for more accessibility for Cambodia’s agricultural products to China.
During the inauguration of Xi Jinping Blvd on Friday, Deputy Prime Minister Sun Chanthol, First Vice President of the Council for the Development of Cambodia (CDC) said that China is the second largest investor in the first half of 2024.
“On behalf of the Cambodian people and the RGC, I would like to express my deep appreciation and gratitude to the people and government of China, as an important partner in supporting the speedy development of Cambodia in all areas under all circumstances and no complicated conditions,” said Chanthol.
Chanthol asked the Chinese Ambassador to encourage more Chinese companies to invest in large projects in Cambodia to contribute to the development and progress towards achieving the vision of Cambodia 2050 as a high-income country.
According to the report of the General Department of Customs and Excise, the two-way trade volume reached $7.31 billion between January and June this year, marking an 18.8 percent rise from $6.15 billion during the same period last year.
The report highlighted that China continues to be Cambodia’s top trading partner, followed by the US, Vietnam, Thailand and Japan.
