Cambodia, China To Boost Bilateral Trade Up to US$2.5 Billion

[AKP]

Cambodian and Chinese prime ministers have pledged to boost the bilateral trade volume up to US$2.5 billion by 2012, Cambodian Senior Minister and Minister of Commerce H.E. Cham Prasidh said yesterday.

The bilateral trade between both countries is expected to reach over US$2 billion in 2011, up from US$1.44 billion last year, H.E. Cham Prasidh said at a press conference at Phnom Penh International Airport upon the arrival of the Cambodian delegation led by Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen from Nanning, the capital city of China’s Guangxi Zhuang Autonomous Region, where it attended the opening ceremony of the 8th China-ASEAN Expo and China-ASEAN Investment and Business Summit.

According to H.E. Cham Prasidh, milled rice and garment products are expected to be the main products to boost Cambodia’s exports to China.

In the bilateral meeting with Cambodian Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen, H.E. Wen Jiabao, Premier of the State Council of China promised to provide US$1.5 million to help Cambodian flood victims in addition to the emergency flood relief aids worth 50 million yuan (US$7.8 million) airlifted to Cambodia last weekend, he said.

The two premiers also pledged to strengthen cooperation in all regional and international forums. Samdech Techo Hun Sen thanked China for its support to Cambodia’s candidacy as a non-permanent member of the UN Security Council for 2013-2014.

China also accepted the Cambodian government’s loan proposal of around US$500 million annually to rehabilitate the flood-damaged infrastructure and new roads.

From 1992 to September 2011, China has provided grants and loans worth up to US$2,093 million for the rehabilitation and development of Cambodia.