Home > Business, Cambodia Business News > Cambodia aims to double trade with China in 5 yrs

Cambodia aims to double trade with China in 5 yrs

Cambodia’s Prime Minister Hun Sen (R) and China’s Premier Wen Jiabao
inspect an honour guard during a welcome ceremony at the Great Hall of
the People in Beijing December 13, 2010.
REUTERS/Jason Lee(CHINA – Tags: POLITICS)
PHNOM PENH, Dec 18 (Reuters)– Cambodia and China have pledged to double bilateral trade
to US$2.5 billion (RM7.84 billion) in five years, driven largely by
agriculture, mining and hydro power, the Cambodian government said,
underscoring their tightening ties.

Cambodia’s Foreign Minister
Hor Namhong made the comment yesterday after Prime Minister Hun Sen
returned from a visit to China, noting bilateral trade was now US$1.1
billion and China had agreed to import more Cambodian rice and other
products.

He also said China had promised a US$300 million loan
for construction of two national roads and an irrigation project in
Cambodia and that another 12 deals were signed during Hun Sen visit’s
worth around US$293 million, mostly infrastructure related.

Chinese investors are increasingly active in Cambodia, pledging to invest
US$8 billion in 360 projects in the impoverished Southeast Asian
country in the first seven months of this year, mostly in power and
agriculture.

Cambodia signed a spate of business deals with China in December last year
during a visit by Chinese Vice-President Xi Jinping, days after defying
international pressure by sending back to China 20 ethnic minority
Uighur asylum-seekers.

Beijing is Cambodia’s largest source
of foreign aid, providing about US$600 million in 2007 and US$260
million in 2008, helping to build roads, dams and other infrastructure.
China also gives military aid. – Reuters

Advertisements
  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: