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Wednesday, November 16, 2011

Cambodia highlights fruitful cooperation with China

PHNOM PENH, Nov. 16 (Xinhua) -- Cambodia's National Assembly ( CNA) is satisfied with the fruitful relations and cooperation between Cambodia and China on economy and investment, the CNA's President Heng Samrin said Wednesday.

Besides solid political ties between the two countries, the trade and investment relations have been growing very fast, he said during a meeting with visiting Ge Zhenfeng, deputy director of Overseas Chinese Affairs Committee of the Chinese National People's Congress.

On the bilateral trade relation, he said that the two-way trade volume was 1.43 billion U.S. dollars in the first eight months of this year, almost equal to the trade volume in the whole year 2010 that was 1.44 billion U.S. dollars. He added that it is expected the bilateral trade will reach 2 billion U.S. dollars this year.

As for the investment, China's total investment in Cambodia during the first nine months of this year was 1.14 billion U.S. dollars, up 68 percent from 680 million U.S. dollars at the same period last year, according to the reports of the Council for the Development of Cambodia.

The reports said that from 1994 to September 2011, China's accumulative investments in Cambodia had reached 8.86 billion U.S. dollars, bringing China as the largest investor in the country.

More importantly, he said, China has actively helped Cambodia in the development of infrastructures such as roads, bridges, irrigation system and hydro-electric dams, as well as in humanitarian activities.

Meanwhile, Heng Samrin reiterated that Cambodia still sticks to one-China's policy for the cause of peace, stability and regional cooperation.

In response, Ge Zhenfeng said the visit was to strengthen and expand friendship relations and solidarity between China and Cambodia.

He also pledged to boost more cooperation between China and Cambodia on trade and investment for the interests of peoples in both countries.

Ge Zhenfeng arrived here on Nov. 15 for a four-day official visit.

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