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China to continue opening market to Cambodian products

May Kunmakara / Khmer Times Share:
China’s Wang Yajun and Prime Minister Hun Sen on Friday. KT/Khem Sovannara

The Vice Minister of the Communist Party of China’s International Department, who is now in the Kingdom in an official visit, has pledged to further open the Chinese market to Cambodian products and work to attract more investors.

Wang Yajun made the pledges on Friday during a meeting with Prime Minister Hun Sen at the Peace Palace in Phnom Penh.

Mr Wang is in the Kingdom in an official visit to follow up on agreements signed by the Cambodian and Chinese governments during last month’s Belt and Road Initiative (BRI) Forum in Beijing.

At the BRI Forum, the countries signed a number of memorandums of understanding, including on key projects for cooperation on production capacity and investment, mutual support on tax affairs, and cooperation on the rectangular strategy and the BRI.

Another MoU was signed to cement cooperation on the exportation of 400,000 tonnes of Cambodian rice to the Chinese market.

There were also agreements signed on the action plans on the ‘Cambodia-China Community of Shared Future’ and on economic and technical cooperation under grant aid, among others.

Mr Wang praised Cambodia’s economic development in recent years and said the country’s thriving economy presents tantalising opportunities for foreign investors.

“The relationship between Cambodia and China is very strong,” he said. “The documents signed at the Belt and Road Forum will further strengthen the relationship between the two countries and help achieve our common interests.

“The two countries will grow together and strengthen cooperation,” he was quoted as saying in a post on Prime Minister Hun Sen’s Facebook page.

The Prime Minister thanked Mr Wang for his visit, and expressed hope that the Chinese government will continue to promote Chinese investment in Cambodia and further open its market.

During his stay in the country, Mr Wang will also visit Preah Sihanouk to study the province’s investment potential.

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