Friday, 24 September 2010 15:01 May Kunmakara/AFP
CAMBODIA’S Chamber of Commerce will sign an agreement to strengthen business ties with the Chinese city of Xi’an early next week.
Calling it a “starting point” for Chinese investors interested in the Kingdom, Cambodia Chamber of Commerce international relations manager Keo Nimet said a Xi’an delegation was eager to match up with businesses in the Kingdom.
“This the starting point for the Chinese firms to seek business opportunities and find local partners,” he said.
He said that the council already had signed cooperation agreements with many Chinese provinces.
Representatives from 12 large Chinese firms will attend the signing of the memorandum of understanding by Xi’an Bureau of Commerce Director Hao Mangxi and CCC President Kith Meng next week, to be witnessed by representatives from 20 local businesses.
Chinese delegates travelling to the Kingdom specialise in machinery production, electronics, and the food industry, Keo Nimet said.
Xi’an is the capital of Shaanxi province.
The province recorded GDP per capita of 21,732 yuan (US$3,241) last year, a 13.3 percent increase compared with 2008, despite the state government saying “the economy of Shaanxi province had undergone the most difficult time” during the financial crisis.
With over 8 million people, Xi’an has a long history as a trading city in China .
The famed terracotta army was found in its eastern suburbs in 1974.
CDC data shows that approved investment in Cambodia from China was worth some $530 million in the first half of 2010, up 119 percent from $242 million in the same period in 2009.
Bilateral trade between Cambodia and the Peoples’ Republic reached $501 million over the first six months of this year.
This represents a 25.9 percent increase over the same period last year, according to statistics released by Cambodia’s Ministry of Commerce.