Cambodia, China launch conference on trade, investment promotion

PHNOM PENH - Cambodia and southwestern China's Chongqing city on Friday jointly organized a conference on trade and investment, aiming at further enhancing bilateral ties and cooperation, officials said.

The half-day event was attended by some 20 Chinese company representatives from Chongqing city and around 80 Cambodian commerce officials and businessmen.

Sam Sereyrath, under-secretary of state at the Cambodian ministry of commerce, said the event would contribute further to promoting economic and trade relations between Cambodia and China.

"The conference is essential to promote bilateral cooperation, particularly in the sectors of tourism development, infrastructure, agriculture, machinery, and manufacturing industries," he said.

The official also expressed gratitude to the Chinese government for providing development assistance to Cambodia and encouraging Chinese investors to the country.

"Chinese investments have greatly contributed to developing the Cambodian economy and reducing poverty," he said.

The forum would provide new opportunities for both sides to strengthen and expand business cooperation and investment in Cambodia, said vice-governor of Phnom Penh Municipality Ieng Ounny.

Song Gang, representing the Chongqing team, said the Chinese delegation's visit was to explore business opportunities in Cambodia.

"Many companies from Chongqing city have been doing business in Cambodia already, and I have confidence that through the conference, there will be more Chinese investors coming to Cambodia," said the Chinese official.

Song Xiaoguo, Economic and Commercial Counselor of the Chinese Embassy to Cambodia, highly spoke of excellent ties and cooperation between China and Cambodia, particularly in politics, trade, investment and tourism.

He said China is the top investor in Cambodia with the accumulative investment of about $9.8 billion. On the bilateral trade, it was valued at $3.7 billion last year and was expected to see further growth this year.

For tourism, it is expected that around 600,000 Chinese tourists would have visited Cambodia this year, up from about 460, 000 last year, he added.

At the conference, Chongqing-made agricultural machinery and food products were on displays for Cambodian visitors.

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