Chinese president Hu Jintao will visit Cambodia to strengthen bilateral cooperation between the two countries and talk on regional issues before Cambodia will host ASEAN summit in early April, a source said.
Hu’s visit this year was invited by his majesty King Norodom Sihamoni and he will meet with top leaders of the kingdom during his stay. Last month, Cambodia asked the super power to ratify a treaty of ASEAN region without nuclear weapons. Besides, Cambodia severally asked the claimants of South China Sea to deal controversial issues through code of conducts and does not internationalize the issues. China is the biggest loan providers for Cambodia with amount of over 3 billion US dollars.
This year, Cambodia will borrow 500 million US dollars which will be used to build road for internal integration of link system with region. It could lift up the living condition of people from poverty and exchange of trade.
The close ties between two countries have been established since Chairman Mao Zedong and Premier Zhou Enlai. Cambodia is one of countries recognized the people’s republic of China at the UN when China liberated the country. Both sides highlighted thousands of years back in historic ties sine early Christianity age.
Both side exchanged envoy for ties at that time. Cambodia always expressed the full support for Chinese investors in the Kingdom, which has 14 million people as china has 1.3 billion. This year, China fully supports Cambodia to get successful for chairing the ASEAN and it helped materials for Cambodian side.
Both sides also boost the trade exchange for mutual benefit. Report from commerce ministry of Cambodia, the trade volume between Cambodia and China expects to achieve a rate of about US$ 2.5 billion in 2012 after the two sides have committed to expanding further bilateral trade. The bilateral trade amounted to US$ 1.4 billion dollars in 2010, it added. The bilateral trade volume between Cambodia and China had reached 1.43 billion U.S. dollars for eight months of 2011. Cambodia has received $8.8 billion of investments from China from 1994 to July 201 for 36 projects including hydro-power development.