Cambodia boosting trade and investment with many more countries

PHNOM PENH, April 23 (NNN-AKP) — Cambodia and Russia will boost trade and investment in the near future, Cambodian Ministry of Foreign Affairs and International Cooperation’s spokesman said Wednesday.

This commitment was raised here during a meeting between Deputy Prime Minister and Foreign Minister Hor Namhong and Russian Ambassador to Cambodia Valery Y. Tereshchenko.

On the occasion, both sides agreed that the fundamental relationship and cooperation between Cambodia and Russia is firm and vowed to further promote, especially trade and investment.

“The volumes of trade exchanges between Cambodia and Russia have reached about US$21 million in 2008. It showed an increase of over 7 times if compared to 2004,” Koy Kuong, Ministry of Foreign Affairs and International Cooperation’s spokesman said.

Moreover, the Russian investment in Cambodia has reached some US$600 million, he added.

Besides political, economic and trade cooperation, both countries also agreed to promote the military and cultural exchange programs.

Cambodian Senate President Samdech Akka Moha Thamma Pothisal Chea Sim received here a delegation of the Japanese Trade Association led by its chairman Mr. Akio Dobashi.

In the meeting, Samdech Chea Sim warmly welcomed the Japanese delegation’s visit to Cambodia, which, he said, is very important to strengthen the two countries’ relations and cooperation in all fields, particularly the economic sector.

He further wished Japan to participate in the agricultural development, and continue to help build infrastructure and consolidate bilateral as well as multilateral cooperation with Cambodia.

He also took this opportunity to thank the Japanese government and people for their contribution to the development of Cambodia.

In reply, Mr. Akio Dobashi expressed his interest to Cambodia’s economic development, stressing the continuation of Cambodia-Japan cooperation, especially in the field of agriculture and the encouragement of Japanese investors to Cambodia.

On the same day, Mr. Akio Dobashi also met with Cambodian Prime Minister Hun Sen.

Mr. Akio Dobashi told the Cambodian premier of his visit in the country, the purpose of which, he said, is to study the investment potential in Cambodia, Ieng Sophalet, assistant to Samdech Hun Sen, told reporters upon the meeting.

For his parts, Hun Sen reassured the Japanese delegation about the country’s peace and stability, which provide favorable conditions for investors.

“Cambodia has been granted with many development aids from Japan, but the Japanese investment has not yet answered Cambodia’s need,” Samdech Techo said.

He further recommended the Japanese investors to examine opportunities to invest in the four ASEAN new members, including Cambodia.

In related development National Assembly President Heng Samrin received here on Wednesday Austrian ambassador to Cambodia M. Arno Riedel.

In the meeting, Heng Samrin expressed his satisfaction to the commercial, economic and diplomatic relations between the two countries, Koam Kosal, cabinet head of Heng Samrin told reporters after the meeting.

It is worthy of note that in 2007, Cambodian exports to Austria reached more than US$8 million. The Austrian government has, for its part, granted some US$ 46,000 to support the Cambodian Mines Action Center’s activities and pledged an amount of US$360,000 to the UN to support the Khmer Rouge Tribunal’s process.

For his parts, the Bangkok-based Austrian ambassador wished the Cambodian NA to approve as soon as possible the Cambodia-Austria investment protection agreement inked by the two governments five years ago.

Heng Samrin explained the delay in the agreement’s approval by some problems in an article of the agreement. He wishes therefore the two governments to meet and rectify the article.

On the same day, the Cambodian NA president also held talks with newly appointed ambassador of the Republic of Korea to Cambodia, M. Lee Kyung Soo.

Heng Samrin warmly welcomed the diplomatic mission of M. Lee in Cambodia, stressing its importance in the strengthening of both countries’ relationship and cooperation.

In reply, the South Korean ambassador highly appreciated the royal government’s efforts in the country’s development and said he is proud to see a lot of Korean investors in the kingdom.

He is committed to do his utmost to consolidate and widen the Cambodia-South Korea relationship and cooperation in all domains. — NNN-AKP


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