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PHNOM PENH (Phnom Penh Post/ANN): Cambodia and China’s Hong Kong Special Administrative Region (HKSAR) continue to strengthen their economic ties, with trade volume between the Kingdom and the city rising by more than 50% in the first seven months of 2024.
On Thursday, Lim Lork Piseth, secretary of state at the Ministry of Commerce, met with Secretary for Commerce and Economic Development of Hong Kong Algernon Yau.
“During the meeting, both parties discussed enhancing the bilateral trade relationship between Cambodia and the HKSAR and expanding joint initiatives to attract investors and tourists from Hong Kong.
They also explored opportunities to showcase Cambodian products at key exhibitions and events in the HKSAR,” the ministry stated in an August 23 press release.
Yau voiced his support for developing education for the youth and strengthening cooperation in economic and trade matters, the release noted.
Lork Piseth praised the ongoing cooperation with Yau and expressed hope that the partnership would maximise economic growth and mutual benefits for both parties.
From January to July, trade volume between Cambodia and Hong Kong exceeded US$346 million, an increase of 51%.
Of this, Cambodian exports totaled over US$114 million, up 25.3%, while imports from Hong Kong reached over $231 million, a rise of 67.9% compared to the same period in 2023, according to the General Department of Customs and Excise (GDCE).
On the same day, Lork Piseth also met with Lei Kit Heng, director-general of the Macau Union Suppliers Association (MUSA) in Hong Kong, to discuss cooperation with the association in bringing Cambodian agricultural products to major shopping malls and supermarkets in Macau.
“The two sides also explored the possibility of signing a memorandum of understanding [MoU] in the near future to facilitate the introduction of Cambodian products into the Macau market,” the release stated.
It noted that MUSA comprises more than 250 major companies across various sectors, including malls, supermarkets, restaurants, hotels and resorts in Macau. - Phnom Penh Post/ANN
