Cambodia opens trade center in Shaanxi

Sok Chan / Khmer Times No Comments Share:

Cambodia will unveil another commercial center in China in May, to boost trade between the two countries and inform Chinese business people and tourists about opportunities in Cambodia.  
 
Commerce Minister Pan Sorasak yesterday announced the plan for the center in Xi’an, Shaanxi province, at a conference to promote economic ties between the nations.
 
He said trade between Shaanxi province and Cambodia was worth $1.29 billion in 2016, while trade with the whole of China came in at $4.5 billion.
 
As well as being one of Cambodia’s biggest trading partners, Mr. Sorasak said the country is a major source of investment. China invested $511 million in Cambodia last year, followed by Hong Kong at $237 million, Vietnam at $192 million, Japan at $185 million and Singapore at $169 million.
 
“Our commercial and consular offices in China have helped us a lot. We should open as many as possible, since it is such a big country. Business people, investors and tourists will visit our commercial offices to ask about investment, trade and tourism in Cambodia,” Mr. Sorasak said.  
 
Cambodia’s other commercial offices in China are based in Macau, Nanning, Guangzhou and Beijing. The branches in Macau, Nanning and Guangzhou are already open for business, while Prime Minister Hun Sen will preside over the inauguration ceremony for the Xi’an office in May.
 
Mr. Sorasak said Cambodia and Shaanxi province yesterday signed a memorandum of understanding to build a strong relationship and boost trade and investment, particularly in Cambodia’s special economic zones. Cambodian agricultural products are already being exported to Shaanxi province and the countries hope to build on this and other sectors, including human resources.
 
The province of Shaanxi serves as a hub connecting eastern and central China with the northwest and southwest. In 2016, the value of imports and exports to and from Shaanxi province was 197.48 billion yuan ($28.72 billion).
 
Chinese ambassador to Cambodia Xiong Bo said Shaanxi province is an important center of culture, industry, technology and research. He said the Chinese government’s “One Belt, One Road” development policy had allowed Shaanxi to open its doors to the world.
 
“The governor of Shaanxi province has led 20 Chinese entrepreneurs and business people to visit Cambodia under the guidance of President Xi Jinping, who has urged investors and businesspeople to boost cooperation with Cambodia,” Mr. Xiong said.  
 
Shaanxi provincial governor Hu Heping said Mr. Xi’s visit to Cambodia in October was a milestone for relations between the countries.
 
“The relationship between Cambodia and Shaanxi has been improving for the last three years,” Mr. Hu said. “Having the Cambodian commercial center and consular office in Shaanxi will accelerate the exchange of information to facilitate trade, tourism and cultural ties.”

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