China’s southwestern province of Sichuan will be the focus of a trade exhibition to be held in Phnom Penh later this year, an event aimed at promoting bilateral trade and investment between the Chinese province and the kingdom.
Li Dong Chun, secretary general of the Sichuan Association, said at a press conference in Phnom Penh yesterday that the expo will be hosted this June in Phnom Penh’s Diamond Island.
“The Sichuan-Cambodia Trade Exhibition will be joined by many companies from Sichuan, particularly companies that specialise on construction materials and furniture,” Mr Li said, pointing out also that attendants will be able to buy items at discounted prices.
Speaking during the same press conference, Mao Thora, secretary of state at the Ministry of Commerce, said the Sichuan-Cambodia Trade Expo will enhance economic ties with Sichuan and with China as a whole.
“Cambodia’s trade and investment policy is very open. We are always encouraging investment into the country,” he said.
The Sichuan Association is building a commercial city over an area of 10,000 square metres in Diamond Island. The first phase of the project is scheduled to be completed by June 1, in time for the expo.
“The commercial city project reflects the trust Chinese investors have in the Cambodian government,” said Mr Thora.
According to the latest data from the Ministry of Commerce, Cambodia’s exports to China rose by 18 percent during the last eleven months, reaching $634 million.
Meanwhile, Chinese exports to Cambodia rose by around 5 percent last year, amounting to $4.48 billion.
From 1994 to 2016, Chinese investment in Cambodia amounted to $15 billion. In 2016 alone, Chinese investment equalled $1.05 billion.