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Cambodian deputy PM praises China for contributing to socio-economic development in Cambodia

PHNOM PENH, July 10 (Xinhua) -- Cambodian Deputy Prime Minister and Interior Minister Sar Kheng said Friday evening that China has greatly contributed to socio-economic development in Cambodia and vowed to further enhance the bilateral ties for mutual benefits.

At an event at the Chinese Chamber of Commerce in Cambodia, Sar Kheng highly spoke of close relations and cooperation between Cambodia and China, particularly in politics, diplomacy, economics and trade.

He said China is the key source of capital for Cambodia, stressing that the Chinese investments in Cambodia have reached over 10 billion U.S. dollars in the fields of agriculture, infrastructures, energy, aviation, tourism, telecommunications, and banking and finance.

Moreover, China has provided grants, non-interest loans and concessional loans to Cambodia for socio-economic development, he added.

"These investments and financial assistance have greatly contributed to socio-economic development and poverty reduction in Cambodia,"said Sar Kheng.

Chinese Ambassador to Cambodia Bu Jianguo said the two-way trade volume between China and Cambodia was valued at 3.8 billion U.S. dollars last year and was expected to hit 5 billion U.S. dollars by 2017.

"The Chinese Chamber of Commerce in Cambodia has been playing a very important role to further enhance relations and cooperation between China and Cambodia, especially in economics and trade," she said at the event which gathered about 500 Chinese business people and Cambodian government officials.

Founded in 1996, the Chinese Chamber of Commerce in Cambodia has more than 600 Chinese companies as members to date, said Gao Hua, who was re-elected as the president of the Chinese Chamber of Commerce in Cambodia on Friday.

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