The Hong Kong Special Administrative Region and Cambodia signed 13 agreements on Wednesday to further strengthen trade and investment ties and enhance air services between the two places.
The Hong Kong Trade Development Council, a public body for creating business opportunities for the city, will also set up a consultancy office in Cambodia’s capital, Phnom Penh, to better promote opportunities for the country in Hong Kong.
The agreements were reached during Hong Kong Chief Executive John Lee Ka-chiu’s first official visit to Cambodia since he took office, while on the second leg of a six-day trip to Southeast Asia.
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On Wednesday morning, Lee met with Cambodia’s Prime Minister Hun Manet and Deputy Prime Minister and Minister of Interior Sar Sokha before enjoying lunch with local business heavyweights.
Two memorandums of understanding (MoUs) between Hong Kong and Cambodia were signed at the high-ranking meetings.
During the lunch, Lee and a Cambodian official also witnessed enterprises and organizations from Cambodia and Hong Kong sign 11 MoUs on areas including trade, finance, infrastructure, education and aviation.
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The signatories from the Hong Kong side were TDC, InvestHK, the Chinese General Chamber of Commerce, the Federation of Hong Kong Industries, the Airport Authority Hong Kong, FWD Group, China Construction Bank International and Cathay Pacify Airways.
Their Cambodian counterparts were the Ministry of Industry, Science, Technology and Innovation of Cambodia, the Cambodia Chamber of Commerce, the Royal University of Phnom Penh and the Sihanoukville Special Economic Zone.
Lee said as this visit was the first-ever to Cambodia by a Hong Kong chief executive, the trip has helped top officials from both sides understand each other’s resolve to strive for more economic growth, and has established a willingness to enhance ties in various fields.
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The Hong Kong SAR will step up government-to-government collaboration with Cambodia, a country “with remarkable economic potential”, Lee said. Cambodia also expressed its support for Hong Kong to join the Regional Comprehensive Economic Partnership, the world’s largest free trade bloc, he added.
The Belt and Road Initiative was also discussed during Lee’s meeting with Cambodian leaders, and Lee affirmed that Hong Kong’s expertise in building infrastructure and raising money will be of benefit to Cambodia in many ways.
The leaders of Hong Kong and Cambodia also reached a consensus on promoting people-to-people exchanges, especially through tourism.
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The two MoUs signed on Wednesday focus on exploring the feasibility of increasing direct-flight routes between the two sides.
Leading a delegation of over 30 officials and business executives, Lee arrived in Phnom Penh on Tuesday afternoon after an intensive visit to Laos.
The delegation will head to Vietnam, the third and final stop of Lee’s three-country trip, on Wednesday afternoon, and will visit Hanoi and Ho Chi Minh City before flying back to Hong Kong on Friday.
