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China’s Belt and Road Initiative greatly contributes to Cambodia’s economic growth: senior adviser

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  The China proposed Belt and Road Initiative BRI has greatly contributed to Cambodia s economic growth Cambodian government senior adviser Sok Siphana said on Wednesday Speaking at the second China Cambodia Forum on Economic and Trade Cooperation via video link Siphana said Cambodia has created good synergy with the BRI which has helped develop many infrastructure projects in the Southeast Asian nation such as the Phnom Penh Sihanoukville Expressway the Sihanoukville Coal Power Station and the Siem Reap Angkor International Airport In terms of strengthening industrial and supply chains between the two countries the multi purpose Sihanoukville Special Economic Zone will certainly deepen our production capacity cooperation and help speed up the development of a modern industrial mix in Cambodia he added Siphana who is also chairman of the board of directors of the Phnom Penh based independent think tank Asian Vision Institute said Cambodia and China have forged a very strong bond over decades in both good and bad times The last three years of the COVID 19 pandemic were without a doubt a real testing time for our relationship he said In the future I believe our cooperation will continue to flourish and bring more tangible benefits in terms of longer lasting peace stability and prosperity for the two nations and the region as a whole Speaking of the Regional Comprehensive Economic Partnership RCEP trade pact and the Cambodia China Free Trade Agreement CCFTA which entered into force earlier this year Siphana said the two free trade agreements will inject new impetus to growth Cambodia s economy in the long term Cambodia intends to make full use of this CCFTA mechanism in combination with the recent entry into force of the RCEP agreement to promote additional trade in our agricultural products and raw materials he said I must say that the business opportunities are limitless as long as Cambodian companies can take advantage of many Chinese export mechanisms such as the China International Import Expo the China Import and Export Fair and the ASEAN China Expo to name just a few some he added Meanwhile the senior adviser said Cambodia is very supportive of China s latest two flagship initiatives the Global Development Initiative GDI and the Global Security Initiative GSI Cambodia looks forward to taking advantage of China s newly allocated resources for global development cooperation at a time when it needs all the help it can get to address these pressing global issues such as COVID 19 response and vaccines the poverty alleviation food security climate change and green development Siphana said adding that they are confident that the two proposals will have great support from the world as the BRI did Xinhua
China’s Belt and Road Initiative greatly contributes to Cambodia’s economic growth: senior adviser

Belt and Road Initiative

– The China-proposed Belt and Road Initiative (BRI) has greatly contributed to Cambodia‘s economic growth, Cambodian government senior adviser Sok Siphana said on Wednesday.

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Speaking at the second China-Cambodia Forum on Economic and Trade Cooperation via video link, Siphana said Cambodia has created good synergy with the BRI, which has helped develop many infrastructure projects in the Southeast Asian nation. such as the Phnom Penh-Sihanoukville Expressway, the Sihanoukville Coal Power Station and the Siem Reap Angkor International Airport.

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“In terms of strengthening industrial and supply chains between the two countries, the multi-purpose Sihanoukville Special Economic Zone will certainly deepen our production capacity cooperation and help speed up the development of a modern industrial mix in Cambodia,” he added.

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Siphana, who is also chairman of the board of directors of the Phnom Penh-based independent think tank Asian Vision Institute, said Cambodia and China have forged a very strong bond over decades in both good and bad times.

“The last three years of the COVID-19 pandemic were without a doubt a real testing time for our relationship,” he said. “In the future, I believe our cooperation will continue to flourish and bring more tangible benefits in terms of longer lasting peace, stability and prosperity for the two nations and the region as a whole.”

Speaking of the Regional Comprehensive Economic Partnership (RCEP) trade pact and the Cambodia-China Free Trade Agreement (CCFTA), which entered into force earlier this year, Siphana said the two free trade agreements will inject new impetus to growth. Cambodia’s economy in the long term.

“Cambodia intends to make full use of this CCFTA mechanism in combination with the recent entry into force of the RCEP agreement to promote additional trade in our agricultural products and raw materials,” he said.

“I must say that the business opportunities are limitless as long as Cambodian companies can take advantage of many Chinese export mechanisms such as the China International Import Expo, the China Import and Export Fair, and the ASEAN-China Expo, to name just a few. some.” he added.

Meanwhile, the senior adviser said Cambodia is very supportive of China’s latest two flagship initiatives, the Global Development Initiative (GDI) and the Global Security Initiative (GSI).

“Cambodia looks forward to taking advantage of China’s newly allocated resources for global development cooperation, at a time when it needs all the help it can get to address these pressing global issues, such as COVID-19 response and vaccines, the poverty alleviation, food security, climate change and green development,” Siphana said, adding that they are confident that the two proposals will have great support from the world as the BRI did. ■

(Xinhua)

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