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Cambodia and Russia had pledged to increase bilateral trade and investment. The Kingdom aims to diversify its market through the Eurasia Economic Union (EAEU).
Deputy Prime Minister Hor Namhong, whom met with Russian Ambassador to Cambodia Dmitry Tsvetkov said both countries had good diplomatic relations which continued receiving strong support by Russian on Cambodia’s economic growth.
He further added that since 2015, the country had signed 51 agreements to boost trade, and investments in the financial sector, agriculture and more. Last year, bilateral trade reached $55.39 million and presently, government is reviewing 14 Memorandums of Understanding (MoU) which expected to be sign soon. It will focus on tourism, education, law and youth.
Dmitry Tsvetkov noted a fast development of Cambodia and impressed by the fact that even though Cambodia was not an oil-producing country, it had seen approximately seven per cent growth last year.
He released that Cambodia-Russia Working Group had started negotiations on a Free Trade Agreement with Eurasia.
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