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Kingdom, Hong Kong boost ties

Kingdom, Hong Kong boost ties

Economic cooperation between Cambodia and Hong Kong is on the rise, while the introduction of a new visa extension is also evidence of strengthening relations, officials say.

“We see growing trade ties between Hong Kong and Cambodia, with the average annual growth rate at nine per cent from 2008 to 2012,” Ngai Fong, director of the Singapore-based Hong Kong Economic and Trade Office said yesterday.

He added that Hong Kong was Cambodia’s sixth largest trading partner and is the fifth largest source of imports in 2011.

In Cambodia, there are 56 Hong Kong-owned garment and footwear factories, employing some 35,000 workers.

According to figures from the Singapore office, bilateral trade between Cambodia and Hong Kong amounted to $879 million last year, an 18 per cent increase from the year earlier. On June 1, Cambodian officials will be able to travel to Hong Kong without a visa and stay for 14 days under a new exemption agreement designed to promote trade and development.

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