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Xi's visit to boost China-Cambodia bilateral trade relations

Reporter: Zhang Jian 丨 CCTV.com

10-12-2016 16:29 BJT

Full coverage: Xi Visits Cambodia, Bangladesh, Attends BRICS summit

Economic ties between China and Cambodia have grown rapidly over the past two decades. Bilateral trade has expanded four times over the past 7 years. Experts expect the two countries to sign more trade deals during President Xi Jinping's two-day visit.

The Kingdom of Cambodia is bordered  by Vietnam, Laos, Thailand. The traditional agricultural country has a population of about 15 million people, with tourism being its main economic pillar. Experts say China has contributed significantly to Cambodia's growth. And more cooperation could be coming during President Xi's visit.

President of Cambodia-China friendship association, Ek Sam Ol, said, "The two countries will sign a series of cooperation agreements during President Xi's visit. I'm very thankful for President Xi Jinping and the Chinese government for allowing more investors to Cambodia, and more tourists to visit here. And China buys our agricultural products such as rice, it helps Cambodia greatly."

China and Cambodia established a comprehensive strategic partnership in 2010. The two countries saw their bilateral trade jump to $4.4 billion in 2015. That was up almost 20% from 2014. With the coming of Xi's official visit to Cambodia, the bilateral ties are expected to deepen.

Chinese ambassador to Cambodia, Xiong Bo, said, "I think Cambodia has entered a crucial period of economic development. After 20 years of rapid development and accumulation, Cambodia has braced for economic take-off. Besides its own efforts, it also needs outside assistance. China can play an important role. Chinese enterprises have unique advantages in infrastructure construction. The two sides have great cooperative potential."

The ambassador said China's direct investment in Cambodia totaled more than $12 billion by the end of June. The two countries also are speeding up their integration of China's Belt and Road Initiative with Cambodia's “Quadrangle Strategy.”

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