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.

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