Logo of Phnom Penh Post newspaper Phnom Penh Post - Guangzhou delegation explores bilateral investment opportunities

Guangzhou delegation explores bilateral investment opportunities

Guangzhou delegation explores bilateral investment opportunities

Two-way trade between Cambodia and China’s Guangzhou sub-province increased over 46 percent in the first four months of 2010 compared with the same period last year, and it will grow still more, according to the head of a trade-seeking delegation from the province.

Yu Ruheng, vice president of the China Council for the Promotion of International Trade Guangzhou Council (CCPITGC), who led 50 Chinese companies comprising 80 businesspersons in a two-day visit to the Kingdom, said total imports-exports between the regions were estimated to have reached US$1.4 million in the first four months of this year, from $924,065 for the same period last year.

“This shows a very good surging point. However, the trade volume is still quite limited, meaning we have a lot of potential for further improvement,” Yu Ruheng said at the meeting of the delegation with Cambodian businesses on Wednesday at Phnom Penh’s NagaWorld Hotel and Casino.

China signed the ASEAN Free Trade Agreement in early January this year (C-AFTA) to lower some trade tariffs with the aim of reducing them to zero by 2015.

But trade flows have seen year-on-year growth between the Kingdom and the sub-province in the past two years despite the “tsunami” of the world economic crisis, Yu Ruheng said, pointing out that bilateral trade had risen to $3.8 million in 2009, up 2 percent from $3.7 million in 2008.

Cambodia Chamber of Commerce (CCC) President Kith Meng told the delegation at the NagaWorld meeting that Cambodia’s pool of labour is large and growing, the political environment is stable, and that the country is further enhancing competitiveness with further infrastructure projects in roads, railway and electricity.

“You have chosen a very good time to visit Cambodia. This country has developed significantly in recent years and will continue to do so,” Kith Meng said. “Improvements in both the road and rail system will permit easier movement of goods around the country and to export points, particularly for Greater Mekong countries.”

He added; “By combining China’s experience in developing a manufacturing base with an increasingly reliable electricity supply here, and a large and relatively low-cost labour force, we can rapidly grow Cambodia’s manufacturing industry,” he said.

Guangzhou’s exports to Cambodia were mainly machinery, electronics, furniture, light products and medicine, and Cambodia’s exports to the sub-province were agricultural products, fish and timber.

Liu Xian Ming, vice president of Guangzhou Light Industry & Trade Group Ltd, whose products are already exported to Thailand, Vietnam and Indonesia, said it was his first time to the Kingdom, and that he found the meeting very fruitful. He said he expected to find a Cambodian partner to do business with as a result.

Guangzhou is the capital and sub-provincial city of the 10 million-person Guangdong province in southern China.

MOST VIEWED

  • US think tank warns of China's 'ulterior motives'

    A US think tank on Tuesday warned that spreading Chinese investment in the Indo-Pacific follows a pattern of leveraging geopolitical influence at the expense of the nations receiving investment, including Cambodia. The report looks at a sample of 15 Chinese port development projects, noting that the

  • Stock photo agencies cash in on Khmer Rouge tragedy
    Stock-photo companies selling images from S-21 raises ethics concerns

    A woman with short-cropped hair stares directly into the camera, her head cocked slightly to the side. On her lap is a sleeping infant just barely in the frame. The woman was the wife of a Khmer Rouge officer who fell out of favour, and

  • Defence Ministry denies weapons in smuggling case came from Cambodia

    After a Thai national was arrested last week for allegedly smuggling guns from Cambodia to Thailand, Cambodia's Defence Ministry has claimed the weapons seized during the arrest are not used in Cambodia, despite the fact that both types of rifle seized are commonly found in

  • More than three tonnes of ivory reportedly bound for Cambodia seized in Mozambique

    A total of 3.5 tonnes of ivory reportedly bound for Cambodia was seized by authorities in Mozambique late last week, according to the NGO Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES). CITES' information was based on a report from the