Latest news with #Chandarith
The Star
17 hours ago
- Business
- The Star
Roundup: Cambodian scholars laud Cambodia-China economic, trade cooperation
PHNOM PENH, Aug. 19 (Xinhua) -- Cambodian officials and scholars on Tuesday lauded Cambodia-China economic and trade cooperation and a bilateral free trade agreement, saying that they have offered tremendous mutual benefit and win-win situation. They made the remarks during a seminar on Cambodia-China economic and trade cooperation 2025. Kao Muy Thong, deputy secretary general of the Council for Agriculture and Rural Development of Cambodia, said China is Cambodia's top investor, trading partner and major source of tourists, adding that Chinese investment and tourists have significantly contributed to the kingdom's socio-economic development and poverty alleviation. He said the Cambodia-China Free Trade Agreement (CCFTA), which entered into force in 2022, has provided greater access of made-in-Cambodia products to the Chinese market. "Under the CCFTA, Cambodia can export more than 340 categories of products to China, with 95 percent of them being agricultural goods with zero-percent tariffs," he said. "The remaining 5 percent, which are machinery and vehicles, will see tariffs reduced to zero percent within 10 years." He said 2025, which is the Cambodia-China Year of Tourism, has provided a good opportunity for both countries to further expand people-to-people exchanges and trade relations for mutual benefit. Heang Sotheara, an advisor to Cambodia's Ministry of Public Works and Transport, said China has played a critical role in Cambodia's economic growth. Sotheara said Chinese investors should focus on non-garment manufacturing sectors such as food and beverage, agro-industry, and agriculture, adding that these sectors have potential for medium- and long-term investment. Neak Chandarith, director of the Cambodia 21st Century Maritime Silk Road Research Center of the Royal University of Phnom Penh, said the CCFTA has contributed to rising Cambodian exports to China and improved tariff preferences. "For the CCFTA to deliver broad-based benefits, Cambodia must invest in technical capacity, accelerate protocol negotiations, and promote higher-value exports," he said. Chandarith said Belt and Road Initiative (BRI) mega-projects such as the Sihanoukville Special Economy Zone, Phnom Penh Sihanoukville Expressway, Siem Reap Angkor International Airport, and hydropower plants are vivid examples of economic and trade cooperation between the two countries. "These BRI flagship projects have laid a solid foundation for Cambodia's development of the economy, trade, manufacturing industry, connectivity infrastructure, logistics and tourism as well as for attracting more foreign direct investment to the kingdom," he said. "In sum, broader Cambodia-China economic and trade cooperation will provide greater mutual benefit and win-win situation, injecting more vigorous impetus into building an all-weather Cambodia-China community with a shared future in the new era," Chandarith added.
The Star
06-05-2025
- Business
- The Star
Experts laud Cambodia-China relations in new era
PHNOM PENH: Experts on Saturday (May 3) lauded Cambodia-China relations in a new era, saying that bilateral ties have enjoyed mutually beneficial cooperation and win-win results. During an event on "Cambodia-China Relations in the New Era," Eng Kokthay, director of the Techo Legacy and Policy School, said bilateral relations have steadily developed over the past decades, with remarkable fruits achieved. He said that as the world has faced a number of challenges in recent years, China has actively and consistently promoted a neighbourhood diplomacy to preserve peace, security and development in the region and beyond. Kokthay said this policy has been further consolidated in the building of a community with a shared future for mankind. Neak Chandarith, director of the Cambodia 21st Century Maritime Silk Road Research Center of the Royal University of Phnom Penh, said Chinese investment has dramatically transformed Cambodia's urban landscape, particularly in the capital Phnom Penh and Sihanoukville. "Chinese investment has transformed Sihanoukville from quiet seaside province into a bustling hub for Chinese tourists and investors," he said. "A cornerstone of China-Cambodia economic cooperation, the Sihanoukville Special Economy Zone has transformed Cambodia's industrial landscape since its establishment," Chandarith said. The Phnom Penh-Sihanoukville Expressway has reduced logistics costs by 40 per cent and transformed the quiet coastal city into a major industrial hub, he added. Chandarith said China has been the largest source of foreign direct investment to and the biggest trading partner of Cambodia, playing a crucial role in the country's economic and trade development. As 2025 has been designated as the Cambodia-China Year of Tourism, Chandarith predicted that the number of Chinese tourists to the South-East Asian country would significantly increase this year. Diep Sophal, a history professor at the University of Cambodia, said an iron-clad friendship between the two countries is unbreakable and will be even stronger and closer in the future. Sophal said bilateral ties have been built on the principles of mutual respect, trust and support, non-interference in each other's internal affairs, mutual benefit, win-win cooperation, and shared prosperity. Pay Sambo, secretary general of the Civil Society Alliance Forum (CSAF), said Cambodian and Chinese non-governmental organisations have also cooperated well with each other in the areas of humanitarian assistance and poverty alleviation. - Xinhua
