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MoU Signed with China

Sok Chan / Khmer Times Share:

The Cambodia Chamber of Commerce (CCC) and the China Council for the Promotion of International Trade (CCPIT) on Friday signed a memorandum of understanding (MoU) to promote business interaction and enhance trade and investment between China and the Kingdom.
 
Kith Meng, CCC president, said the MoU aimed to promote business interaction between the two organizations that would gradually enhance trade and investment relations between the two nations. He said the CCC and CCPIT would jointly support the business communities for mutual benefit.
 
“The MoU would basically cover the areas of cooperation such as information exchange, trade promotion activities, exchange of business visits, experience sharing and capacity building,” Mr. Meng said.  
 
He said China was one of the Kingdom’s leading trade partners and biggest sources of foreign direct investment, with China playing a significant role in the socio-economic development of Cambodia.
 
In the first half of 2016, bilateral trade between Cambodia and China was $2.34 billion, up 10.2 percent compared to the same period last year while China’s imports from the Kingdom rose 27.4 percent to nearly $380 million compared to the same period last year. Chinese investment in Cambodia stands highest among other foreign investors in Asean, according to the Chinese embassy in Phnom Penh.

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