|PHNOM PENH, Oct. 28 (Xinhua) — Cambodian Prime
Minister Hun Sen on Monday urged
Chinese companies to focus their investments in
processing plants for agricultural
products in order to help increase the country’s
productivity for exports.
The premier made the suggestion during a meeting with a
visiting Chinese delegation
led by Wang Junmin, deputy secretary of Shandong provincial
committee, at the Peace Palace, according to Eang Sophallet,
personal spokesman for Hun Sen.
“The market is indefinite in Cambodia because there are
few buyers and processing plants,” Eang Sophallet
quoted the premier as saying to Wang.
“The premier asked the Chinese delegation to explore
investment possibilities in processing plants in
Cambodia in order to process agricultural products for
exports to China since China has offered
customs duty-free up to 95 percent of the tax line for
Cambodia- made products,” he told
reporters after the meeting.
According to the Cambodian Ministry of Commerce,
China has provided tax exemption
for 418 items of Cambodian products; however, the
country has not yet taken the maximum
advantage of the offer due to the lack of resources
and processing plants.
For his part, Wang said it was his first visit to Cambodia
to further enhance China-Cambodia
relations and cooperation, particularly in economic and
He said that, on Sunday, he signed a Memorandum of
Understanding with the governor of
southern Kampot province Khoy Khun Hour in order to
bridge cooperation between Shandong and Kampot.
Kampot is famous for aromatic pepper and delicious
durian. Under the deal, Shandong would
encourage investors to grow these types of crops in
the province, he said.
His delegation also visited cultural Siem Reap province
to eye potential for tourism investment.
According to Wang, currently, 68 Chinese companies
from Shandong province have been
doing businesses in various fields in Cambodia.
China is the largest investor in Cambodia. According
to the Cambodian government’s figures,
from 1994 to 2012, total Chinese investment in
Cambodia has reached 9.17 billion U.S. dollars.
On the trade side, the two-way trade was valued
at 2.9 billion U. S. dollars last year and is
expected to reach 5 billion U.S. dollars by 2017.
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