China agrees on 6-point economic cooperation with Cambodia
China agrees on 6-point economic cooperation with Cambodia
China in principle agreed to assist Cambodia in six major economic areas including developing green energy and infrastructure, modernising the technology, agriculture and health sectors, and accelerating the corridor projects.
Hun Sen, President of the Senate, on the conclusion of his China visit (December 2-4) was given assurance by the Chinese top brass to provide grants or concessional loans to back up all projects while the Kingdom decided to integrate the Pentagonal Strategy with the Belt and Road Initiative (BRI).
According to a press release from the General Secretariat of the Senate on Wednesday, China committed to encouraging Chinese investors, tourists, and officials to visit the Kingdom to build stronger economic cooperation for the benefit of citizens.
Both nations are dedicated to advancing the ‘Diamond Cooperation’, focusing on six key areas including the establishment of the industrial and technology corridor, the rice and fishery corridor, the development of green energy, and interconnected infrastructure, as well as modernising agriculture, health and technological innovation.
The initiative aimed to strengthen bilateral ties by enhancing collaboration in tourism, cultural exchanges, education, training, and youth delegation visits, with active support from relevant institutions, the statement added.
During his three-day mission to China, Mr Hun Sen held separate bilateral meetings with Xi Jinping, President of the People’s Republic of China, Wang Huning, Chairman of the Chinese People’s Political Consultative Conference and Zhao Leji, Chairman of the Standing Committee of the National People’s Congress of China (SCNPC).
Prak Sokhonn, Minister of Foreign Affairs and International Cooperation (MFAIC), Tea Banh, Member of the Supreme Privy Council to His Majesty the King, Sun Chanthol, Deputy Prime Minister and First Vice-Chairman of the Council for the Development of Cambodia (CDC) and Hun Many, Deputy Prime Minister and Minister of Civil Service, were present during these meetings.
During these meetings, Mr Hun Sen and the Chinese leaders praised the strong bilateral relationship, highlighting their comprehensive strategic partnership and shared vision for a high-quality future.
Beijing reaffirmed its support for the Cambodian People’s Party and the government in pursuing a development path suited to Cambodia’s needs, emphasising mutual respect, collaboration, and a shared commitment to strengthening ties and building a Cambodia-China community of shared future in the new era.
Speaking to Khmer Times, Dr Seun Sam, a policy analyst at the Royal Academy of Cambodia, highlighted the alignment between Cambodia’s Pentagonal Strategy and China’s Belt and Road Initiative (BRI), stating that integrating these long-term master plans could yield significant economic benefits.
Dr Sam emphasised that the BRI is an expansive infrastructure network spanning over 142 countries across Asia and Europe, requiring participants to invest in interconnected transportation and logistics systems.
“To facilitate participation, China offers loans to countries, enabling them to achieve unprecedented economic benefits,” he noted.
While recognising the importance of securing loans from powerful nations for development, Dr Sam underscored the need for efficient loan management, cautioning that repayment obligations to China must be carefully considered.
