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Cambodian, Chinese firms sign deals for business cooperation

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PHNOM PENH, Dec. 15 (Xinhua) -- Cambodian and Chinese companies on Monday signed five agreements for business cooperation and joint ventures in construction and agriculture.

The deals were signed on the sidelines of an annual Cambodia Import-Export Exhibition here under the presence of Cambodian Commerce Ministry Secretary of State Kem Sithan.

One deal was inked between the Chinese General Chamber of Commerce and the Cambodia International Chamber of Commerce for trade and investment promotion, another was reached between China' s Yong Jun Stone Crushing and Cambodia' King Crushing Stone for stone crushing business, and the other was signed between China's Covenant Wealth Management Corporation and Cambodia's O.N.D. Corporation to invest 17 million U.S. dollars to build 1,220 condominiums.

China's Ru Hui International Group and Cambodia's Tai Zhong Shen Development Group inked to invest 49 million U.S. dollars to purchase about 200,000 tons of cassava chips for exporting to China, and China's Wei Fang Fu Shun Technology and Cambodia's Pol Khemara Group jointly invest 1.2 million U.S. dollars in a wood drying factory.

"The agreements will contribute to developing agriculture and trade in Cambodia," Kem Sithan said after the signing ceremony.

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