Phnom Penh (FN), Dec. 19 – Cambodian prime minister Hun Sen said that maintaining the prestige of ASEAN in all aspects at global stage is inseparable from the engagement of ASEAN dialogue partners, especially the People's Republic of China, which is recognized as the world's second largest economic Superpower.

The premier spoke at the Conferment Ceremony of the Distinguished World Leader Lifetime Achievement Award, held on Monday (Dec 19) at the Peace Palace.

“In fact, ASEAN-China cooperation has grown steadily over the past three decades, reflecting through establishment of the “ASEAN-China Comprehensive Strategic Partnership” in 2021, and now is moving towards the establishment of an upcoming “China-ASEAN Free Trade Area version 3.0”,” the premier added.

“For instance, China is ASEAN's the largest trading partner, with total merchandise trade between ASEAN and China increased to around USD 669 Billion in 2021, up 28%, while the inflow of Foreign Direct Investments (FDIs) from China to ASEAN amounted to USD 13.6 Billion in 2021, which almost doubled the value compared to that in 2020. With these contributions, based on the assessment and forecast of the ASEAN +3 Macroeconomic Research Office (AMRO) last October, the ASEAN region will be able to achieve growth rate of 5.3% and 4.9% in 2022 and 2023, respectively, which is a high rate compared to other regions of the world,” the premier underlined.

Samdech continued, “While under the bilateral framework, the cooperation between the two countries has grown politically, economically, and socially, which is reflected in the frequent mutual visits, expansion of trade, investment, and tourism as well as the increase in people-to-people exchanges. In particular, the relationship between Cambodia and China has grown with pride to the point of being recognized as an "Iron-Clad Friend", along with the increase of bilateral trade to around USD 11 Billion in 2021, up by approximately 37% compared to that in 2020.”

“In addition, Cambodia has always received supports and assistances from Chinese friend, both financially and non-financially, especially in the most difficult times caused by the COVID-19 crisis, which contributed to enhancing Cambodia’s capability in better managing the pandemic situation, and especially contributed to the reduction of socio-economic impacts as well,” the premier added.

“The development of the People’s Republic of China is a miraculous achievement, which has benefited not only the Chinese people, but also provided numerous positive impacts for ASEAN and Cambodia in terms of economic, social, and geo-political dimensions. In the context which we are constantly confronting more problems and risks with high uncertainty, such as the continuation of the COVID19 pandemic, geo-political competition, protectionism, the uncertainty of the global economic outlook, climate change, the constant disruption of global value chains and production, I hope and believe that the ASEAN-China cooperation that has been opening a new chapter through the implementation of the “ASEAN-China Comprehensive Strategic Partnership” and the establishment of the “ASEAN-China Free Trade Area version 3.0”, will contribute to further enhancing relations and cooperations between the two regions with greater potential and dynamism,” the premier underscored.
=FRESH NEWS