PHNOM PENH, March 30 (Xinhua) -- Cambodia-China economic and trade cooperation has provided tremendous benefits and win-win results, a senior commerce official said on Friday.
The Cambodian Ministry of Commerce's Secretary of State and spokesperson Penn Sovicheat said key achievements under this cooperation included the Sihanoukville Special Economy Zone, the Phnom Penh Sihanoukville Expressway, and the Siem Reap Angkor International Airport.
"These mega-projects are prime examples of practical cooperation in economics and trade between Cambodia and China and are also the fruits of cooperation between the two countries under the Belt and Road Initiative," he told Xinhua.
"These projects have importantly contributed to boosting Cambodia's economy, trade, manufacturing industry, connectivity infrastructure, tourism, and logistics," he added.
Sovicheat said that the Siem Reap Angkor International Airport and the Techo International Airport, which is scheduled to open to commercial operations in July 2025, will play a vital role in handling the remarkably growing number of tourists.
"Moreover, the simultaneous entry into force of the Regional Comprehensive Economic Partnership Agreement and the Cambodia-China Free Trade Agreement on Jan. 1, 2022, have also laid a strong foundation for Cambodia and China to enhance their trade and investment relations," Sovicheat said.
Under these trade pacts, a number of Cambodian products, especially high-quality agricultural produce such as milled rice, yellow bananas, mangoes, longans, and peppercorn, as well as some wild aquatic products have been exported to China with preferential tariffs, he added.
The spokesperson said China is a huge market for made-in-Cambodia products and the two countries enjoy steady and positive trade growth every year.
He said both countries have also enjoyed good cooperation in e-commerce as many types of made-in-Cambodia products have been put up for sale on Chinese e-commerce platforms such as Alibaba.
"China is a trustworthy partner for Cambodia," he said. "Looking forward, our two-way trade volume will continue to rise, undoubtedly."
Sovicheat said since 2023, the two countries have also worked together to develop an "Industrial Development Corridor" and a "Fish and Rice Corridor."
"The Industrial Development Corridor is crucial to support the transformation of coastal Sihanoukville into a model multipurpose special economic zone, while the Fish and Rice Corridor is vital to develop modern ecological agriculture near the Tonle Sap Lake," he said.
In conclusion, he said, all these cooperation mechanisms will inject stronger momentum into broadening bilateral economic, trade, and investment relations for mutual greater benefits towards building a high-quality, high-level, and high-standard Cambodia-China community with a shared future in the new era.
A single purchase
