Chinese businessmen visit Cambodia to seek investment opportunities

via Khmer NZ News Media

June 09, 2010

A delegation of Chinese businessmen on Wednesday met with Cambodian business people for investment opportunities and local business partners, aimed at strengthening trade cooperation between the two countries.

The Chinese delegation, consisting of around 80 business people from 50 companies of Guangzhou, the capital city of China's Guangdong province, met with more than 100 Cambodian business people headed by Kith Meng, president of Cambodia Chamber of Commerce (CCC), on Wednesday at Naga World Hotel.

Yu Ruheng, vice president of the China Council for the Promotion of International Trade Guangzhou Council, said that trade volume between Guangzhou and Cambodia has increased by 1.8 percent to 3.78 million U.S. dollars in 2009 from 3.71 million U. S. dollars in 2008. In the first four months of this year, the two- way trade between Guangzhou and Cambodia rose by a year-on-year 46. 31 percent to 1.35 million U.S. dollars.

"This shows a very good surging point due to the strong relationship between Cambodia and China; However, the trade volume is still small, meaning that we have a lot of room to grow," he said. "I do hope that Guangzhou will be able to expand its trade volume for trade cooperation with many other ASEAN's countries including Cambodia to achieve the great outcome."

Goods Cambodia imported from Guangzhou are machinery, electronics, furniture, light products, medicine while Cambodia's main exports to Guangzhou are agricultural products, fishes, and timbers.

Yu Ruheng also promised to invite Cambodian companies to join all trade fairs in order to take market share in Guagzhou and other markets in China.

Kith Meng during the meeting said that it is the right time that they observed investment opportunities in Cambodia because now Cambodia has gained full peace and stability. And investment environment is favorable for investors, especially, Cambodia has low cost of labor.

"By combining China's experience in developing manufacturing industries, in combination with an increasingly reliable electricity supply and improved physical infrastructure here and relatively low cost labor force, Cambodia is the favorable place for Chinese investors," said Kith Meng.

Source: Xinhua