In a bid to boost trade, investment and the flow of tourists from China, Cambodia opened a new trade centre in the eastern Chinese province of Shandong.
For in depth analysis of Cambodian Business, visit Capital Cambodia
The launch of the centre was presided over by Commerce Minister Pan Sorasak, who said it will act as a gateway to share information on trade, investment, tourism and Cambodian culture with Chinese people.
He said that, with the support from Shandong authorities, the centre will play a major role strengthening the relationship between Cambodia and China.
“The Cambodian Trade Centre in Shandong aims to showcase Cambodian products to attract more orders from China and boost exports,” he said.
Mr Sorasak called on Shandong’s businesses to consider investment opportunities in Cambodia, particularly in the agriculture sector. He said the rice, mango, cassava, longan and banana sectors can be very lucrative for Chinese investors.
Last month, Cambodia and China reached a number of agreements at the sidelines of the Belt and Road Initiative (BRI) Forum in Beijing, including the ‘Action Plan 2019-2023 on Building China-Cambodia Community of Shared Future’ and a deal on technical cooperation under grant aid.
China also agreed to increase its import quota for Cambodian milled rice by 100,000 tonnes.
During the same event, China announced that it will provide about $600 million over the next three years to support the Cambodian economy and the development of the country’s roads and energy infrastructure.