Cambodia to Open 3 Commercial Hubs in China
Cambodia will open three commercial centers in Beijing, Guangzhou, and Shanghai to promote Cambodian exports and culture, according to a statement released by the Ministry of Commerce on Saturday.
"The centers will serve as information hubs and will share all information on all trade-related activities," Soeng Sophary, a spokesperson for the Ministry of Commerce, said, adding that the centers will be avenues for Chinese businessmen to find suppliers and distributors in Cambodia.
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The Beijing center will operate with the help of HYT International Transport Service, the Shanghai center with Shanghai Spring International Service, and the Guangzhou center with Guangzhou Jinsui Industry Group, according to Cambodia Daily.
Under the bilateral trade agreement, the commercial centers will enjoy free rental fees in the cities.
Pan Sorasak, the minister of commerce, reportedly presided over the signing ceremony for the development of the three centers on Saturday, Phnom Penh Post reported.
The initiative followed after Chinese President Xi Jinping paid a two-day state visit in Cambodia, where the two nations inked at least 31 deals to enhance cooperation, including $238 million in soft loans, $89 million debt forgiveness, and $15 million military aid.
Ngoun Meng Tech, director-general of Cambodia Chamber of Commerce, commended the establishment of the three centers, saying it would then be easier for Chinese investors and traders to gather basic information and more options as well as facilitate investment process.
"Without detailed information, investors always hesitate to put investments in, or take a long time before deciding to do business," he stressed, adding that the new centers will save both time and money of both Cambodian and Chinese people.