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Logo of Phnom Penh Post newspaper Phnom Penh Post - China and Cambodia agree on trade boost

China and Cambodia agree on trade boost

CAMBODIA and China have pledged to boost bilateral trade in order to reach a target of US$2.5 billion per annum by 2015.

Foreign Minister Hor Namhong said in a press conference at Phnom Penh airport on Friday that the agreement was made during a meeting between Prime Minister Hun Sen and Chinese premier Wen Jiabao.

From January to October this year, he said, total trade between the two countries was worth $1.1 billion.

“China had also promised to import more agricultural products from Cambodia such as rice, cassava, corn, and beans. China is a huge market for Cambodia” he said.

Prime Minister Hun Sen and an accompanying delegation returned from Beijing late last week after brokering 12 projects during a five-day visit.

Hor Namhong said that China would also provide $300 million worth of loans and roughly $15 million in aid. He added that an agreement over a coal-powered Sihanoukville power plant had not been signed due to timeframe constraints, but a deal would be inked in Phnom Penh soon.

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