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Cambodian Deputy Prime Minister: Yan Caili
2012/09/11     Source:

The world financial crisis did bring impact to most of the countries' economic development process, with Cambodia included. Cambodia is a member of the world economic system, so the downturn in the world economy has also brought impact to the economic development of Cambodia. However, under the efforts of the Government of the Kingdom of Cambodia, the negative impact has been reduced to some degree. The total trade between Cambodia and China has been increased from $ 437 million in 2009 to $ 1.3 billion in 2010. It is predicted that the trade between the two countries will continue to grow year on year.
In order to achieve "a group to share a common destiny" point of view of ASEAN organization in 2015, as the rotating presidency of ASEAN, Cambodian leaders have presided over meetings with leaders of various countries in Phnom Penh and Siem Reap. In order to achieve this goal, ASEAN has established a number of mechanisms. For example, the free economic zone has built an investment platform in the region to attract countries outside of the region to invest in the region, especially China. The Government of the Kingdom of Cambodia is committed to increasing investment in infrastructure, coordinating for commercial and trade activities, and tries to solve the problem on taxes and prices as well as a variety of barriers to trade, so as to improve and promote good relations between the peoples of ASEAN countries.
Like other countries,
Cambodia strongly depends on exports of products and foreign direct investment as a means of economic growth. The inspection report on the development and investment policies published by the United Nations at G20 meeting noted that: in the world economic crisis, many developed countries did not formulate investment policies or encourage foreign investment, but promote the reconstruction of their own companies and industries, and thus protected their countries’ employment. I wonder the effectiveness of such policy in maintaining their countries' economic growth in the world economic and financial crisis. Cambodia is ready to adopt various policies to maintain the country's economic growth, in order to accord with the annual economic growth rate of 7% as planned in the second stage of our government’s implementing the four corner strategy”.
I hope the countries in the world will accelerate the pace of development and, through a variety of channels and ways, strengthen and expand economic and trade cooperation with the world, Northeast Asia and ASEAN countries, to improve the living standards of the people!

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