Cambodia to open 6th trade center in China later December

By：Xinhua Update：2019-12-18

PHNOM PENH, Dec. 18 (Xinhua) -- Cambodia is going to open its sixth trade center in China on Dec. 28 to further promote bilateral ties in trade, investment, culture and tourism, Commerce Minister Pan Sorasak said Wednesday.

The new trade center will be located in Kunming, capital of southwest China's Yunnan province, he said, and Cambodian Deputy Prime Minister Yim Chhay Ly is scheduled to attend the launching ceremony.

"The center will exhibit Cambodian products and documents relevant to culture and tourism sites, business environment and investment potentials in Cambodia," he said in a speech at the Ministry of Commerce's annual conference.

Sorasak said the existing five Cambodian trade centers in China are resided in Guangzhou in southern Guangdong province, Xi'an in northwestern Shaanxi province, Haining in eastern Zhejiang province, Hong Kong Special Administrative Region, and Yantai in eastern Shandong province.

Cambodian Ministry of Commerce Spokesman Seang Thay said Cambodia saw China as a huge market for its products, particularly for agricultural ones.

"Cambodian trade centers in China are very useful to promote Cambodian products, investment potentials, investment law and regulations, tourism attractions, and culture to Chinese investors and tourists," he told Xinhua.

China is the biggest source of both foreign direct investment and tourists to Cambodia, and is also a key trading partner of the kingdom.

According to Cambodian government figures, the Southeast Asian nation attracted a total investment of 21 billion U.S. dollars from China from 1994 to date.

On the tourism side, the country welcomed 2 million Chinese tourists during the first 10 months of 2019, up 24 percent over the same period last year.

And for trade, the two-way trade volume was valued at 6.6 billion U.S. dollars last year and is projected to hit 10 billion U.S. dollars by 2023.