Phnom Penh (FN), Feb 22 – President of the Cambodian Chamber of Commerce (CCC) tycoon Kith Meng paid a courtesy call on vice president of the Hainan Provincial Council for the Promotion of International Trade, Chen Hongliang, held on Wednesday (Feb 22)

The meeting was participated by about 80 businessmen from China and Cambodia, aiming to boost business and investment.

A Memorandum of Understanding (MoU) was signed between the CCC and the Hainan Provincial Council for the Promotion of International Trade to accelerate economic cooperation and increase the scope of trade exchanges between Cambodia and China's Hainan Province.

The President of CCC warmly welcomed the visit of the Hainan Provincial delegation to Cambodia in line with the 65th anniversary of Cambodia-China diplomatic ties. He also highlighted the excellent relations between the two countries in all sectors and invited Hainan investors to explore investment opportunities in the kingdom.

In recent years, Cambodia-China trade volume has steadily increased, exceeding the target plan set by the two governments. As for direct investment, China has invested in key sectors such as garments, construction, mining, energy, agriculture, and tourism.

Kith Meng briefed his counterpart during the official visit of Cambodian prime minister Hun Sen to China on 9-11 February 2023. The two leaders agreed to establish The Diamond Cooperation focusing on six priority areas such as politics, production, agriculture, energy, security, and people-to-people exchanges.

Taking this occasion, Kith Meng emphasized the new cooperation framework, along with existing cooperation such as the Cambodia-China Free Trade Agreement (CCFTA), the Regional Comprehensive Economic Partnership (RCEP), Belt and Road Initiative, and Mekong-Lancang Cooperation. These cooperation provide more business opportunities for the private sector.

In addition, the president of the CCC shared the potential sectors and economic growth, making Cambodia becomes land of opportunities. He also invited Hainan businessmen to visit Cambodia again.

Kith Meng will lead a Cambodian business delegation to visit Hainan in May 2023.

For his part, Chen Hongliang thanked tycoon Kith Meng for warm hospitality for his delegation and hosted fruitful meeting as it contributes to strengthening of relations between the two institutions and two countries' business relations.

He emphasized that this visit marked the first oversea mission of Hainan delegation in the last three years. In this regard, Cambodia is a priority country for the Hainan delegation. He also shared the potential of the Hainan Free Trade Port as a gateway for overseas investment that will further strengthen export-import volume and tourism.

Lastly, he invited Kith Meng to lead a delegation to participate in the following events such as the 8th East Asia Business Forum, Hainan International Golf Alliance Tourism Forum, China-World Creativity and Innovation Week, and China International Marine, Port, and Shipping Fair.