Cambodia expects new financial support from China amid Xi Jinping's visit. This is reported by Reuters, UNN reports.
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Phnom Penh is actively preparing for a new wave of economic cooperation with China, especially in the infrastructure sector, against the background of the visit of Chinese President Xi Jinping, who arrives in Cambodia on Thursday. This is the final stage of his diplomatic tour of Southeast Asian countries.
Cambodia, which has previously faced trade restrictions from the United States in the form of record duties, is increasingly linking its economic future with Beijing. China has already invested billions of dollars in local roads, airports and other projects, becoming the country's main lender. This time, the focus is on potential funding for the large-scale Funan-Techo Canal, which should connect the Mekong River with the Gulf of Siam.
According to Meas Soksensan, a spokesman for the Cambodian Ministry of Finance, Phnom Penh expects increased cooperation in the field of infrastructure. Although Xi Jinping did not mention new projects in an article for local media, he stressed the importance of combating unilateral economic practices and expressed support for development.
The canal project, which is estimated at $1.7 billion, which is almost 4% of Cambodia's GDP, should facilitate access to world markets, reduce dependence on Vietnamese ports and protect the delicate Mekong Delta. At the same time, specific commitments from the Chinese side have not yet been confirmed: according to various sources, China's participation in financing has varied from full coverage of costs to less than half of the amount.
Xi Jinping's visit was a logical continuation of his visits to Vietnam and Malaysia, countries that have also faced pressure from the United States in the form of tariffs and have their own concerns about China's influence in the region.
Let us remind you
Chinese President Xi Jinping called on Vietnam to join China in "jointly resisting bullying." This statement was made during the Chinese leader's visit to Hanoi, as part of his visits to Southeast Asian countries.
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