Cambodia, China Discuss Ways to Boost Bilateral Trade and Investment

Cambodian and Chinese relevant officials met here on Tuesday afternoon in the 5th Meeting of Economic and Trade Cooperation Committee (5th CCETCC) to further promote the two-day trade.

The Cambodian side was headed by Minister of Commerce H.E. Pan Sorasak while the Chinese side was led by Vice Minister of Commerce H.E. Ms. Gao Yan.

The purpose of the meeting was to review the outcomes of their past cooperation and to set forth direction to boost the volume of bilateral trade to US$6 billion by 2020 as planned.

Both sides lauded the bilateral trade exchange between the two countries, which reached US$5.8 billion in 2017, up 21.8 percent from US$4.7 billion in 2016. They highlighted the key progress in bilateral trade sector, especially the sanitary and phytosanitary issues which remain technical barriers to the diversification of Cambodia's agricultural product exports to China's markets.

H.E. Pan Sorasak expressed his gratitude to the Government of China for having supported different development projects of the Royal Government of Cambodia and encouraged investors to invest in Cambodia in the One Belt One Road framework.

For her part, H.E. Ms. Gao Yan thanked H.E. Minister for his coordination for the Chinese investments in Cambodia and his support to the organisation of business meetings as well as trade expos.

To reduce trade imbalance between the two countries, China, she said, will consider buying more Cambodia's products, including milled rice, next year.

Source: Agency Kampuchea Press