September 13, 2011

Cambodia, Britain see better economic ties: Deputy PM


PHNOM PENH, Sept. 13 -- The economic and trade relations between Cambodia and the United Kingdom have seen a significant increase in recent years, said Cambodian Deputy Prime Minister Keat Chhon, Minister of Finance, on Tuesday.

According to the figure of the Council of the Development of Cambodia, during the first seven months of this year, the Council has approved British investment projects in Cambodia worth up to 2. 2 billion U.S. dollars.

On the trade side, the two countries' trade volume was 247.2 million U.S. dollars in the first half of this year, 55 percent rise, compared to the same period last year, according to the figures from the British Embassy in Phnom Penh.

"These increases reflect growing relations and cooperation between the two governments," he said during a meeting with the outgoing British Ambassador to Cambodia Andrew Stephen Mace.

The minister continued to say that besides trade and investment, the UK has provided the total grant aid of about 290 million U.S. dollars to Cambodia from 1992 to 2011 for the development on health, good governance and human rights.

Also, the Britain pledged another 20 million U.S. dollars in aid to Cambodia for 2012-2013 development plan.

Meanwhile, Andrew Stephen Mace pledged to encourage more British investors to do businesses in Cambodia when he returns home.

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