Wednesday, 7 October 2009

South Korean President to Visit Cambodia Soon


Written by DAP NEWS -- Tuesday, 06 October 2009
(Post by CAAI News Media)

The president of South Korea will visit Cambodia October 22-23 to strengthen the bilateral cooperation between the two countries, an official said on Monday.

Eang Sophallet, assistant to Prime Minister Hun Sen, told reporters at the Foreign Ministry that Hun Sen met visiting Shin Jae Hyun, ambassador in charge of cooperation, natural resources and energy affairs to the South Korean President about cooperation between both sides.

Cambodia and South Korea will sign an MoU on oil and energy cooperation during the visit of South Korean President Lee Myung-bak, Eang said. “Both sides will sign the contract on seeking mines, oil, gas, and energy cooperation to push the economic development in the country,” he said. “The bilateral cooperation will provide the mutual benefits.”

Eang said that Prime Minister Hun Sen hoped that the contract will accelerate the Cambodia’s economic development. Shin’s visit has been seen to pave the way for President Lee Myung-bak’s visit in Cambodia. Last year, both sides signed six agreements to strengthen bilateral cooperation. Cambodia has said it considers South Korea as an important development partner to recover economic cooperation through personal relation between Hun Sen and Lee. Lee used to be an economic advisor to Cambodian Prime Minister in the early 2000s. South Korea has contributed to help Cambodia in stock exchange which plan to open in 2010.

According to a report from Cambodian Commerce Ministry, the bilateral trade volume for both sides was worth over US$230 million. At the same time, Cambodia exported to South Korea goods worth over US$10 million. South Korea has invested to build skyscrapers in Phnom Penh including Golden Tower 42, Camko city, and IFC.

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