In an effort to build a Cambodia-China Community (CCC) – enriched by the diamond hexagon cooperation – the two countries agreed to expedite the formulation of a master plan for the ‘Industrial and Technological Corridor’ (ITC) and ‘Fish and Rice Corridor’ (FRC) to promote imports of the Kingdom agriculture products to the People’s Republic of China.
The master plan was revealed yesterday during a joint press release after successfully conducting the seventh meeting of the Cambodia-China Intergovernmental Coordination Committee (7th Cam-China ICC) co-chaired by Wang Yi, Minister of Foreign Affairs of China and Sun Chanthol, Deputy Prime Minister and First-Vice Chairman of the Council for the Development of Cambodia (CDC).
During the meeting with Prime Minister Hun Manet on Monday at the Peace Palace, Wang went on record saying that the Chinese government will push for the completion of the master plan so that cooperation on ITC and FRC will fructify shortly. Further, he said that China is committed to developing and modernising the agro-industrial sector in the Kingdom.
In the course of the discussion, the Premier suggested the Chinese Foreign Minister to consider the possibility of establishing the Cam-China Free Trade Area even while building more special economic zones in the Kingdom.
Under the strategic guidance of President Xi Jinping and the Khmer leadership, the two governments have deepened and substantiated their efforts to create a Cam-China community, enriched by the diamond hexagon cooperation framework, and made positive progress in building the ITC and FRC, bringing tangible benefits.
According to the joint press release, both parties agreed to fully leverage the coordinating role of the Cam-China ICC aimed at creating a high-quality, high-level, and high-standard CCC with a shared future in the new era and jointly promoting free, open, equal, inclusive and universally beneficial multilateralism and economic globalisation.
Besides, both nations agreed to deepen synergy between the Belt and Road Initiative (BRI) and the Pentagonal Strategy – Phase One, expedite the formulation of the collaboration plan for the ITC, advance the preliminary planning and design of the Cam-China Railway, and deliver on the Chinese Agricultural Demonstration Center and other early harvest projects of the FRC, deepening Cam-China Comprehensive Strategic Partnership of Cooperation.
They also committed to ensuring high-quality implementation of the China-Cam Free Trade Agreement, promoting imports of Khmer agricultural products to China while encouraging more Chinese businesses to invest in Cambodia.
Both parties reiterated their readiness to cooperate under the framework of the Global Development Initiative, the Global Security Initiative and the Global Civilisation Initiative, and further enhance coordination and collaboration within such platforms as Lancang-Mekong Cooperation and ASEAN-China cooperation.
Lor Vichet, Vice President of Cambodia Chinese Commerce Association told Khmer Times, “The visit of China’s top diplomat to our nation further solidified their unwavering commitment towards supporting socio-economic development path across the country.”
The 7th Cam-China ICC laid out the groundwork for formulating a master plan to implement the ITC plus the FRC which will dramatically transform Cambodia’s industrial and agricultural landscape by upgrading the supply chains to become the regional agricultural and industrial hub as Chinese manufacturers are expected to mitigate current geopolitical risks by offshoring to the Kingdom, Vichet added. (khmertimeskh )
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