PHNOM PENH: On May 23rd, 2024, Duke Kith Meng, President of the Cambodian Chamber of Commerce (CCC), met with HE Yang Youzing, Vice President of the All-China Federation of Industry and Commerce, to discuss cooperation.

This meeting built upon the strong foundation established by the Memorandum of Understanding signed between the Cambodian Chamber of Commerce and the All-China Federation of Industry and Commerce on May 30, 2018. The discussion aimed to further strengthen ties between the two organizations and promote trade and investment between China and Cambodia.

Both parties emphasized achieving common prosperity through continued collaboration in key areas. This follows the recent elevation of the Cambodia-China relationship to a comprehensive strategic partnership in 2010.

President Meng highlighted Cambodia's attractive investment environment, including high economic growth, political stability, a young workforce, competitive costs, and a strategic geographic location within ASEAN. He encouraged Chinese investors to explore these opportunities, emphasizing Cambodia's position as a prime investment destination.

Supporting this outlook, the ASEAN+3 Macroeconomic Research Office (AMRO) recently released a positive economic forecast for Cambodia. The report predicts a 5.6% growth in 2024, exceeding 2023's 5% growth. This positive trend is driven by factors like garment and non-garment exports, alongside a reviving tourism sector.