About 100 investors from Zhejiang, China, representing 60 companies, met with Cambodian businessmen in Phnom Penh yesterday to exchange ideas. The participants sought to boost bilateral trade between the countries.  

During a speech at the business meeting, Chinese Ambassador to Cambodia Pan Guangxue said Zhejiang is China’s third-largest exporter.

“People in Zhejiang are the most entrepreneurial in China. There are 1.5 million entrepreneurs investing abroad, of which some hundreds are already in Cambodia,” said Pan Guangxue.

“The Cambodia-China relations are the most excellent right now, so both parties should consider co-operation from today’s meeting on for their future prosperity,” he added.

The exchange was organised by the China Council for the Promotion of International Trade Zhejiang Sub-Council (CCPIT Zhejiang), the biggest foreign trade and economic co-operation promotion organisation in Zhejiang.

The delegation of 60 small and medium-size enterprises specialised in areas including agriculture, processing and manufacturing, and bio-technology manufacturing.

Cambodian Minister of Commerce Cham Prasidh highlighted Cambodia’s competitive advantages, noting its political and macro-economic stability, the country’s abundant work force and inexpensive labour costs.

Kith Meng, president of the Cambodia Chamber of Commerce, said that while the Kingdom’s poor quality of infrastructure had been the biggest constraint for business in the past, this was no longer the case.

“Significant and ongoing investment throughout Cambodia in road networks, rail systems and in power generation and transmission are improving the quality of life for Cambodians,” he said.

The meeting will have a direct impact on the business communities in China and Cambodia to deliver growth and prosperity, according to Kith Meng.

“These investments are also laying the groundwork for a significant leap forward in industry and commerce,” he added.

CCPIT Zhejiang said another business-to-business talk between delegations from both countries will soon follow.

Guangxue said yesterday that bilateral trade between Cambodia and China reached $2.9 billion last year, a 16 per cent jump from 2011.