The nation will enhance economic ties with Cambodia in areas including transportation infrastructure, tourism, e-commerce and trade in agricultural products to generate new growth momentum, said the Ministry of Commerce.
The two countries signed a number of agreements earlier this month including a deal in which China will help Cambodia improve the kingdom’s educational sector, a $2.5 million cash transfer agreement to assist Cambodia’s mine clearance projects and a restoration project at Angkor Wat, the country’s top tourist destination.
The two governments also held the first meeting of the China-Cambodia e-commerce working group and a partnership mechanism between the two sides.
Gao Yan, vice-minister of commerce, said China will expand import channels from Cambodia and encourage Chinese companies to invest in Cambodia’s transport, energy and infrastructure development. China also invited Cambodian companies to participate in the first China International Import Expo in Shanghai in November.
“China and Cambodia will firmly oppose unilateralism and protectionism, and prevent such practices from impacting the regional economy, and develop the markets related to the Belt and Road Initiative, as well as work together to accelerate the negotiating pace to promote the Regional Comprehensive Economic Partnership,” she said during the fifth meeting of the China-Cambodia Joint Economic and Trade committee.
Chinese Ambassador to Cambodia Xiong Bo said: “Under the B&R Initiative, there is a growing number of Chinese investors going to Cambodia, and they are making considerable contribution to the Cambodian economy.”
Bilateral trade volume between China and Cambodia amounted to $5.8 billion in 2017, up 22 percent year-on-year, data from the General Administration of Customs showed.
