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Deals ‘worth $80M’ signed at China-Asean expo

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Prime Minister Hun Sen shakes hands with China’s First Vice-Premier Han Zheng at the China-Asean Expo in Nanning last week. facebook

Deals ‘worth $80M’ signed at China-Asean expo

As the China-Asean Expo drew to a close last week in Nanning, China, many left with the feeling that the Kingdom will forge stronger cooperation with the Asian powerhouse.

In fact, several memoranda of understanding (MoU) were signed between Cambodia and major mainland Chinese investors.

On the sidelines of the four-day event, Prime Minister Hun Sen met with eight Chinese corporate leaders, including Lei Jun, the founding chairman and CEO of smartphone maker Xiaomi.

Twelve MoUs were signed between trade officials of the two nations aimed at boosting ties, according to a news release late Thursday from the Kingdom’s Ministry of Commerce.

Twelve deals

While the release didn’t explain the details of each memorandum of understanding (MoU), it said the total value of all 12 amounted to $80 million and covered many sectors, including tourism, engineering, airport construction, and research and training facilities.

The Ministry of Commerce spokesman could not be reached for comment about the deals on Sunday.

Cambodia Chamber of Commerce vice-president Lim Heng who had joined the Expo said on Sunday that more Chinese investors were showing interest in the Kingdom’s potential, and several of them had met Cambodian leaders in China.

“After this event, there will be higher inflows of Chinese investment and a further boosting of trade between Cambodia and China,” he said.

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