China and Cambodia to establish comprehensive strategic partnership

China and Cambodia to establish comprehensive strategic partnership

2010-12-14 10:45:49 GMT+7 (ICT)

BEIJING, CHINA (BNO NEWS) -- China and Cambodia on Monday agreed to establish a comprehensive strategic partnership of cooperation and further strengthen bilateral cooperation, the state-run Xinhua news agency reported.

The agreement was reached by Chinese Premier Wen Jiabao and Cambodian Prime Minister Hun Sen during a meeting in Beijing. China and Cambodia agreed to cope with emerging challenges and promoting peace and development.

Premier Wen said that both countries have forged closer bilateral relations in recent years with frequent high-level contacts, close cooperation on issues involving the two nations' major concerns and common interests, increasing political and strategic mutual trust and expanding pragmatic cooperation.

Cambodia was seeking to continue closer relations with China at all levels, as well as enhancing mutual trust and deepen comprehensive cooperation. The Cambodian Prime Minister expressed his appreciation for China's long-term support.

China also invited Cambodia to make full use of the free trade agreement between the Asian giant and the Association of Southeast Asian Nations (ASEAN) and to expand investment in China. Wen added that his government will encourage companies to increase investment in Cambodia to help its economy.

Wen called on both nations to increase bilateral trade to $2.5 billion per year by 2015. This year's first half, bilateral trade was worth $627 million which represented an over 37 percent increase.

Following the meeting, the two leaders signed 13 deals on cooperation in areas such as energy, infrastructure, finance and consular affairs. The countries will also strengthen coordination with various mechanisms to combat security threats.

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