PHNOM PENH, May 24 (Xinhua) -- China sees Cambodia as one of the potential trade and investment partners among the Association of Southeast Asian Nations (ASEAN) and pledges to boost closer economic ties between the two countries, said a senior Chinese official on Tuesday.
During a meeting with Cambodian Prime Minister Hun Sen, the visiting Wan Jifei, chairman of China Council for the Promotion of International Trade and president of China Chamber of International Commerce, said that his visit to Cambodia was to boost closer cooperation between Cambodia and China on trade and investment.
He has brought with a number of large Chinese companies to explore trade and investment opportunity in Cambodia.
“China is pleased to encourage Chinese investors to Cambodia in order to help Cambodia in its efforts for national development,” he said.
Meanwhile, premier Hun Sen said that the bilateral relation between Cambodia and China on economics and investment has strongly developed since the visit of Wu Yi, Vice Premier of the State Council of China to Cambodia in March 2004.
“To date, China is the largest investor in Cambodia,” he said, adding that most of Chinese investments here are in infrastructure development, hydro-power dams, mineral resources exploration, irrigation system, and garment industry.
“These investment projects are very vital for sustainable and long-term development of Cambodian economy,” added the premier.
According to the report from the Council for the Development of Cambodia, China is the largest investors in Cambodia with the accumulative investment of 8 billion U.S. dollars by the end of 2010.
Hun Sen continued to say that Cambodia would try to boost bilateral trade with China to hit 2.5 billion U.S. dollars in 2012 from 1.4 billion U.S. dollars in 2010.
Wan Jifei will also hold meeting with Cambodian minister of commerce Cham Prasidh and officials at Cambodian chamber of commerce on Tuesday afternoon on trade and investment cooperation opportunity. (Nguon Sovan)
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