Phnom Penh, Cambodia – Cambodia is intensifying its efforts to elevate economic and trade cooperation with China, focusing particularly on the digital economy and e-commerce sectors. This strategic push comes as the trade volume between the two nations continues to rise, reflecting a positive trend in bilateral relations.
At the China-Cambodia Digital Economic Cooperation Forum 2024, held on November 4, Dr. Aun Porn Moniroth, Deputy Prime Minister and Minister of Economy and Finance, emphasized the significance of this cooperation. He noted that 2024 marks the 66th anniversary of diplomatic ties between Cambodia and China, a year dedicated to fostering people-to-people exchanges and mutual understanding. He referred to the "diamond friendship" between the two nations, highlighting their robust relations across various sectors.
In terms of trade statistics, Dr. Aun announced that in the first three quarters of 2024, the trade volume between Cambodia and China reached approximately $9.8 billion, representing a 13.2% increase compared to the same period in 2023. Exports from Cambodia to China totaled around $1.27 billion, an impressive growth of 21%, while imports from China amounted to approximately $8.52 billion, increasing by 12%. This upward trajectory underscores Cambodia’s commitment to enhancing economic and trade cooperation with China.
Dr. Aun Porn Moniroth also highlighted the guiding principles and vision of the Royal Government, led by Prime Minister Hun Manet, emphasizing a strategic framework aimed at sustainable growth and development. He mentioned the "Pentagon Strategy," which prioritizes five essential areas: people, infrastructure (roads), water, electricity, and technology, with a strong focus on digital technology. This strategy aims to bolster Cambodia's readiness for the Fourth Industrial Revolution and facilitate digital transformation across the economy and society.
The Minister reiterated that the advancement of digital technology is vital for enhancing economic productivity and establishing a groundwork for achieving Cambodia's vision of becoming a high-income country by 2050.
