Tuesday, December 22, 2009

Cambodia tightens economic links with China

China's Vice President Xi Jinping toasts with Cambodia's Prime Minister Hun Sen (R) after signing an agreement on cooperation at council of minister in Phnom Penh December 21, 2009. REUTERS/Chor Sokunthea
Mon Dec 21, 2009
By Jared Ferrie

PHNOM PENH (Reuters) - Cambodia signed 14 deals worth an estimated $850 million with China on Monday, two days after defying international pressure by deporting 20 ethnic Chinese asylum-seekers, underlining growing trade and diplomatic links.
China, Cambodia's biggest source of foreign direct investment having pumped more than $4.3 billion into the impoverished nation, agreed to help fund projects ranging from roads and irrigation to temple conservation and a new a parliament building.
The exact value of the agreements, signed during a visit by Chinese Vice-President Xi Jinping, was not disclosed. But the pacts were widely believed related to a deal worth $853 million when Chinese Premier Wen Jiabao and Cambodia's prime minister, Hun Sen, met in Sichuan on October 15.
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