Strategic pacts drive China, Hong Kong, Macau business ties in the Kingdom

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Members of the business association attend the gala “Mid-Autumn Festival” at Diamond Island Convention and Exhibition Center last Saturday.

The Hong Kong and Macau business communities continue to promote strong trade relations with Cambodia by taking advantage of various strategic cooperation such as the “Community of Common Destiny” action plan and the “One Belt One Road initiative”.

The China, Hong Kong and Macau Expatriate and Business Association of Cambodia, is spearheading the economic interest in the Kingdom, building the vital link among the business communities.

“Business members have been ploughing deep to expand their scale of investment, creating many job opportunities for Cambodians and giving effective service to Cambodia’s economic and social development.

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“The association has been proactively encouraging member companies to participate in China-Cambodia ‘Belt and Road’ collaborations.

“They have made very effective contributions in strengthening the pragmatic collaboration between Cambodia and China, especially the Hong Kong and Macau special administrative regions,” said China’s Ambassador to Cambodia Wang Wentian.

He was speaking at the “Mid-Autumn Festival” dinner held in conjunction with the mooncake festival at Diamond Island Convention and Exhibition Center last Saturday, where some 1,000 association members and prominent business people were present.

Besides, encouraging Hong Kong and Macau businesses to invest in Cambodia, the association actively safeguards their legal rights, he added.

According to China’s state news agency Xinhua, trade volume between Cambodia and Hong Kong was $1.2 billion in 2017, averaging a 3.1 per cent growth yearly since 2013.

“The association has also helped businesses from Hong Kong and Macau to solve problems in their investments and operations, playing an important role in protecting the legal rights of fellow China citizens, especially those from Hong Kong and Macau.

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Prominent businessmen and Wang (third from left) at the dinner held at Koh Pich.

“The association also guided members to comply with the rule of law in Cambodia, respect local culture and customs, actively carry out their corporate social responsibility and supporting charitable initiatives. One example of their charitable initiatives is the association’s contribution to the ‘Belt and Road Cataract Blindness Eradication Campaign’, which benefited the local community,” said Wang.

He also said 2019 was an important year as China-Cambodia comprehensive strategic partnership where bilateral cooperation was strengthened further.

“Under the leadership of both country’s leaders, China and Cambodia are working hard to implement the ‘Community of Common Destiny’ action plan. The seamless matching of ‘One Belt One Road Initiative’ with the ‘Four Corners Strategy’ are resulting in many fruitful pragmatic collaborations across all industries, such as China-Cambodia Tourism Year and China-Cambodia Law Enforcement Year.

“The strengthened friendship between China and Cambodia has opened up many rare opportunities for Hong Kong and Macau businesses in Cambodia,” he added.

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Trade between Cambodia and Hong Kong stood at $1.2 billion in 2017. Photo: AFP

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Wang: The association has contributed to Cambodia’s social and economic growth.