China-Cambodia cooperation is regarded as a model that can also be applied to other Southeast Asian countries and beyond, according to a report released in Beijing on Jan 10.

The report, published by Chongyang Institute for Financial Studies of Renmin University of China, said their collaboration has produced results in the past five years, despite Cambodia’s challenges, including unsteady growth, uneven development, insufficient infrastructure and an inadequate financial system.

The report suggests the two countries use the advantage of their mutual trust, complementary economies and expanding people-to-people exchanges to lift up bilateral ties and tackle the challenges.

“The relationship between China and Cambodia has been underestimated,” said Wang Wen, deputy dean of the Chongyang Institute, adding that the two countries have great potential in deepening relations in tourism, infrastructure construction, energy cooperation and cultural exchanges.

“Cambodia is a country that is geographically important in the 21st Century Maritime Silk Road as well as an important partner in the Lancang-Mekong Cooperation mechanism,” said Gu Jiayun, director of the Center for Cambodian Studies at Beijing Foreign Studies University.

China-Cambodia cooperation has set a good example within the mechanism and brought stability and prosperity to the Southeast Asia.

The maritime silk road is part of the Belt and Road Initiative, proposed in 2013 to provide connectivity in policies, infrastructure, trade, financing and people-to-people exchanges among Asian, European and African countries and beyond.

This year marks 60 years of Chinese-Cambodian diplomatic ties.

Premier Li Keqiang said in a signed article published in Cambodia’s Khmer Times newspaper that “China stands ready to facilitate deep synergy of its development strategies with those of Cambodia to advance bilateral cooperation across the board.”