Cambodian Ministry of Commerce and China Council for the Promotion of International Trade (CCPIT) on Tuesday signed a Memorandum of Understanding (MoU) on the development of bilateral trade.
The MoU was inked between Cambodian Minister of Commerce Cham Prasidh and Wan Jifei, visiting chairman of CCPIT and president of China Chamber of International Commerce.
Speaking before the signing ceremony, Cham Prasidh said the agreement will be useful for Cambodia to strengthen and expand trade cooperation with China.
"As Cambodia and China have good relations in all levels ranging from the two countries' governments to business people and people, I believe that Cambodia and China will be able to achieve the bilateral trade volume of 2.5 billion U.S. dollars in 2012," he said.
The minister has suggested China to help encourage Chinese investors and people to purchase Cambodian agricultural products such as rice, corn, cassava and rubber in order to fulfill the expected trade target in 2012.
Meanwhile, Wan Jifei said that the two countries' cooperation in terms of trade and investment has a lot of room to grow.
He added that through the agreement, the CCPIT will encourage more Chinese investors to come to Cambodia, and will arrange more meetings between the two countries' business people, and will organize trade fairs in China or in Cambodia.
Wan Jifei stressed that currently, the exports of Cambodian products to China are done mostly by the third country such as Vietnam or Thailand. "This is the reason that Cambodia's exports to China are far fewer than those China's exports to Cambodia because the third country buys products from Cambodia and exports to China,"he said, adding "so, to re-balance the two countries' trade, it's necessary that Cambodian and Chinese business people have to meet more often in order to bridge direct trade between the two countries."
Weekly review May 20 World Economic Forum China office marks fifth anniversary May 18 China, Pakistan joined in bonds of brotherhood May 20 'Central axis' of Beijing applies for world cultural heritage May 20 In pictures: Int'l 'Financial Security' symposium opens in Beijing May 21 The week in pictures May 16 Beijing aims for massive influx of overseas talent in 2011 May 16 Singapore election coverage shows Western arrogance May 16 Chinese naval helicopter conducts target practice in Gulf of Aden May 17 Strategies for harmony between militaries of China, US May 17 Pakistani Prime Minister hails China as true friend
The MoU was inked between Cambodian Minister of Commerce Cham Prasidh and Wan Jifei, visiting chairman of CCPIT and president of China Chamber of International Commerce.
Speaking before the signing ceremony, Cham Prasidh said the agreement will be useful for Cambodia to strengthen and expand trade cooperation with China.
"As Cambodia and China have good relations in all levels ranging from the two countries' governments to business people and people, I believe that Cambodia and China will be able to achieve the bilateral trade volume of 2.5 billion U.S. dollars in 2012," he said.
The minister has suggested China to help encourage Chinese investors and people to purchase Cambodian agricultural products such as rice, corn, cassava and rubber in order to fulfill the expected trade target in 2012.
Meanwhile, Wan Jifei said that the two countries' cooperation in terms of trade and investment has a lot of room to grow.
He added that through the agreement, the CCPIT will encourage more Chinese investors to come to Cambodia, and will arrange more meetings between the two countries' business people, and will organize trade fairs in China or in Cambodia.
Wan Jifei stressed that currently, the exports of Cambodian products to China are done mostly by the third country such as Vietnam or Thailand. "This is the reason that Cambodia's exports to China are far fewer than those China's exports to Cambodia because the third country buys products from Cambodia and exports to China,"he said, adding "so, to re-balance the two countries' trade, it's necessary that Cambodian and Chinese business people have to meet more often in order to bridge direct trade between the two countries."
Weekly review May 20 World Economic Forum China office marks fifth anniversary May 18 China, Pakistan joined in bonds of brotherhood May 20 'Central axis' of Beijing applies for world cultural heritage May 20 In pictures: Int'l 'Financial Security' symposium opens in Beijing May 21 The week in pictures May 16 Beijing aims for massive influx of overseas talent in 2011 May 16 Singapore election coverage shows Western arrogance May 16 Chinese naval helicopter conducts target practice in Gulf of Aden May 17 Strategies for harmony between militaries of China, US May 17 Pakistani Prime Minister hails China as true friend
