Australia to back Cambodia’s transition from LDC status
Australia to back Cambodia’s transition from LDC status
Australia Friday pledged cooperation across various sectors to assist the Royal Government of Cambodia (RGC) in its transition from the least developed countries (LDC) status.
The commitment was made during the discussion between Prime Minister Hun Manet and Derek Yip, newly appointed Australian Ambassador to Cambodia in Phnom Penh.
Congratulating the newly appointed ambassador, Mr Hun Manet also expressed appreciation to the Australian government for its contribution to the socio-economic development of the country.
The Premier underlined the importance of dialogue and mechanisms to create a platform for exchanging information and insight on crucial topics, which would benefit both countries.
Ambassador Yip praised the rapid development of all sectors in Cambodia and committed to supporting RGC to exit the LCDs status by 2029, as planned.
He further expressed support for the ‘Pentagonal Strategy – Phase One’ which was established to promote the Kingdom’s sustainable and resilient economic development.
Mr Hun Manet and Ambassador Yip expressed satisfaction with the strong and lasting relations between the two nations.
They discussed ways to strengthen and expand cooperation in many potential sectors including economy, trade, investment, clean energy, health, education, training, defence and security.
On the same day, Ambassador Yip also met with Aun Pornmoniroth, Deputy Prime Minister and Minister of Economy and Finance (MEF), where he committed to deepening the Cambodia-Australia friendship and cooperation, contributing to the development of priority sectors while ensuring the stability and prosperity of the Kingdom.
Pornmoniroth recalled the support of the Australian government from 1992 onwards to the present by grating funds and technical assistance worth over 1.3 billion Australian dollars (or $1 billion).
The development fund went to several potential sectors such as agriculture, trade, governance, demining, clean water, renewable power, education and training and especially the vaccines against Covid-19, Pornmoniroth added.
According to the MEF press release, the Australian government and relevant stakeholders are actively pursuing the Cambodia-Australian Partnership for Resilient Economic Development (CAP-RED), a programme worth $65 million in grants.
All these cooperations, funds and grants from the Australian government have greatly contributed to Cambodia’s socio-economic development as a whole, the statement added.
