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

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.

MOST VIEWED

  • Government denies claims former Thai PM Yingluck issued Cambodian passport

    Government officials on Thursday denied claims that a Cambodian passport was issued to former Thai Prime Minister Yingluck Shinawatra, who reportedly used it to register a company in Hong Kong. The Hong Kong-based English language South China Morning Post (SCMP) on Wednesday reported Hong Kong

  • Diplomatic passports issued to foreigners to be annulled

    The Ministry of Foreign Affairs and International Cooperation will move to annul diplomatic passports issued to those not born in Cambodia. Analysts say the move may be in relation to reports that former Thai prime minister Yingluck Shinawatra used a Cambodian passport to register as

  • Hun Sen warns Irish MP of EBA ‘mistake’

    Prime Minister Hun Sen on Saturday told former Irish premier Enda Kenny, still a member of the EU nation’s parliament, that the 28-nation bloc should not make a “third mistake” regarding Cambodia by using the preferential Everything But Arms (EBA) agreement to “take 16 million

  • The hairy little heroes saving many lives in rural Cambodia

    IN RURAL Siem Reap province, rats dare to tread where no person will, as these hairy little heroes place their lives on the line each day for the good of the local community. The rodents are the most important members of a special team, leading