South Korea and Cambodia signed a series of agreements yesterday to expand bilateral cooperation in the construction, transportation, natural resources and energy industries, the Blue House said.
President Lee Myung-bak met with Cambodia’s Prime Minister Hun Sen at the Blue House yesterday afternoon and discussed measures to expand relations between the two countries.
“The two leaders agreed that the Korea-Cambodia relationship has improved rapidly since the two countries restored their ties in 1997,” the Blue House said. “They also welcomed a series of [agreements] that were signed between the two countries.”
In his meeting with the Cambodian leader, Lee explained his “New Asia Initiative” and stressed that Korea will share its expertise in development with Cambodia.
“Korea will provide official development aid, particularly focused on the agricultural, medical, educational and industrial energy sectors,” the Blue House quoted Lee as saying. “Prime Minister Hun Sen expressed his appreciation and expressed hope for Korea’s continued support.”
The foreign ministers of the two countries signed a memorandum of understanding over Korea’s development aid to Cambodia. Korea will send experts and volunteers to the Southeast Asian nation and invite Cambodian trainees here as a part of the program. The Cambodian government pledged its support for the aid workers, including a plan to waive taxes on goods imported for official development assistance.
The countries agreed to cooperate on energy and construction projects, and their transportation ministries agreed to work closer together as well. Additionally, the countries agreed that Korea will establish an agricultural technology development center in Cambodia in 2010 and dispatch experts and interns to the country.
Korea also cemented two Economic Development Cooperation Fund loans with Cambodia. One will provide a $30 million loan for the Siem Reap sewage project, the other will pump $30 million into the country’s plan to repair roads.
Lee also asked for support in encouraging more Korean companies to participate in an industrial complex project in the city of Sihanoukville. The project was initiated by the Korea Land Corporation, which has invested 20 billion won ($16 million).
While Korea seeks to build factories at a site about five kilometers (3.1 miles) from the Sihanoukville Port, Cambodia had proposed a site about 20 kilometers away.
President Lee Myung-bak met with Cambodia’s Prime Minister Hun Sen at the Blue House yesterday afternoon and discussed measures to expand relations between the two countries.
“The two leaders agreed that the Korea-Cambodia relationship has improved rapidly since the two countries restored their ties in 1997,” the Blue House said. “They also welcomed a series of [agreements] that were signed between the two countries.”
In his meeting with the Cambodian leader, Lee explained his “New Asia Initiative” and stressed that Korea will share its expertise in development with Cambodia.
“Korea will provide official development aid, particularly focused on the agricultural, medical, educational and industrial energy sectors,” the Blue House quoted Lee as saying. “Prime Minister Hun Sen expressed his appreciation and expressed hope for Korea’s continued support.”
The foreign ministers of the two countries signed a memorandum of understanding over Korea’s development aid to Cambodia. Korea will send experts and volunteers to the Southeast Asian nation and invite Cambodian trainees here as a part of the program. The Cambodian government pledged its support for the aid workers, including a plan to waive taxes on goods imported for official development assistance.
The countries agreed to cooperate on energy and construction projects, and their transportation ministries agreed to work closer together as well. Additionally, the countries agreed that Korea will establish an agricultural technology development center in Cambodia in 2010 and dispatch experts and interns to the country.
Korea also cemented two Economic Development Cooperation Fund loans with Cambodia. One will provide a $30 million loan for the Siem Reap sewage project, the other will pump $30 million into the country’s plan to repair roads.
Lee also asked for support in encouraging more Korean companies to participate in an industrial complex project in the city of Sihanoukville. The project was initiated by the Korea Land Corporation, which has invested 20 billion won ($16 million).
While Korea seeks to build factories at a site about five kilometers (3.1 miles) from the Sihanoukville Port, Cambodia had proposed a site about 20 kilometers away.
By Ser Myo-ja [myoja@joongang.co.kr]
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