China, Cambodia vow supply chain cooperation, sign canal deal
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Chinese President Xi Jinping and Cambodian PM Hun Manet at a signing ceremony in Phnom Penh, Cambodia, on April 17.
PHOTO: AFP
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BEIJING – China and Cambodia have agreed to build safe and stable supply chains together and to strengthen cooperation in transportation infrastructure, they said in a joint statement released by China’s foreign ministry on April 19.
The two countries also signed a deal on the construction of a major canal Cambodia
The agreements came at the conclusion of Chinese President Xi Jinping’s three-nation tour of South-east Asia
The trip was part of Beijing’s effort to consolidate economic and trading ties with close neighbours in the face of China’s tariff standoff with the US.
“China supports Cambodia in building the Funan Techo Integrated Water Conservancy Project in accordance with the principles of feasibility and sustainability,” the joint statement said.
The canal project, which was previously estimated to cost US$1.7 billion (S$2.23 billion) – nearly 4 per cent of the country’s annual gross domestic product – and stretching 180km, is now valued at US$1.16 billion with a length of 151.6km, the Cambodian government said in a separate statement on April 18.
It will be financed through a public-private partnership, the statement showed, with Cambodian investors holding a 51 per cent stake and Chinese investors holding 49 per cent.
China also commended Cambodia’s efforts in cracking down on illegal online gambling and telecom fraud in the joint statement, with the two countries agreeing to further strengthen law enforcement cooperation.
Before Mr Xi’s visit, the Cambodian government said it had deported to China a number of “Chinese criminals”,
The two countries also said they had agreed to establish ministerial dialogue between their foreign and defence ministers to facilitate coordination on major strategic issues. REUTERS
