2024-01-11 18:55:30
(Xinhua file photo: Workers peel ripe mangoes at Zhong Bao (Cambodia) Food Science and Technology Co., Ltd. in Kampong Speu Province, Cambodia, March 7, 2023.
PHNOM PENH, Jan. 11 (Xinhua) — On Wednesday (Jan. 10), officials from the Cambodian Ministry of Commerce and experts Revealed that trade between Cambodia-China will continue to increase in 2023 as a result of the Regional Comprehensive Economic Partnership (RCEP) and the Cambodia-China Free Trade Agreement (CCFTA), despite a slowdown in global demand.
Pen Sowichit, Permanent Secretary and Ministry Spokesperson states that the Regional Economic Partnership Agreement and the Cambodia-China Free Trade Agreement This comes into effect in 2022, helping to inject strong momentum into this growth.
Sowichit told China’s Xinhua News Agency that the two agreements made Cambodian products In particular, high quality agricultural products such as rice, yellow bananas, mangoes, longans, cassava and pepper are exported to China with special tariffs. and act as a catalyst for long-term trade growth in Cambodia. Both attract more direct investment from abroad.
Sowichit attributes this growth to the good relations and close cooperation between the two countries. as well as trade promotion activities such as trade fairs and business meeting forum
Kin Phia, Director-General of the Institute of International Relations Under the Royal Institute of Cambodia It said the trade growth shows the strong economic ties between Cambodia and China. amidst global demand that is in a state of slowdown
Pia told Xinhua that growth during a time of global hardship It truly reflects the flexibility of trade relations between the two countries. This increased trade volume delivers greater benefits to both countries and their people. and inject more impetus into building a Cambodia-China community with a shared future in the new era.
Kee Seriwat, Senior Economist and Director-General of the Royal Institute of Chinese Studies It said Cambodia-China relations were elevated to a comprehensive strategic cooperation partnership in 2010 and developed into strong friendship and Diamond Hexagon cooperation.
Seriwat said Chinese aid and investment played an important role in supporting Cambodia’s economic and social development. It also creates hundreds of thousands of jobs for local people.
Seriwat told Xinhua that many of China’s large-scale investment projects under the Belt and Road Initiative include expressways, logistics facilities, ports, airports, hydropower plants. and special economic zones It has created favorable conditions for Cambodia to promote trade exchanges with China and other countries.
(Xinhua file photo: Trucks depart from a land port on the outskirts of Phnom Penh. Cambodia’s capital, January 13, 2022)
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