"This very huge market access enables Cambodia to diversify its products and markets and reduce over-reliance on a few trading partners, i.e., Europe, U.S., and Canada, who traditionally trade with Cambodia on a concessional basis such as Everything But Arms (EBA), Generalized System of Preferences (GSP)," he said.
According to Jaime Suarez, executive director of the Colombia-China Chamber of Investment and Commerce, "trade wars are not promising or positive for either party."
The rise in cases has been blamed on the easing of lockdown regulations by authorities and non-compliance of prevention measures. The epidemic has flared up in some communities.
However, concerns have been raised as Iraq has become the new epicenter of COVID-19 in the Middle East. On Friday the MOH registered the highest daily increase of 3,461 confirmed cases, the worst in Middle East countries. The tally of infections has reached 144,064 cases.
BAGHDAD, Aug. 8 (Xinhua) -- It is a race against time. Medics are shuffling piles of swab samples waiting for COVID-19 testing in a Chinese-built lab in Iraq.
"After all, what would happen to business confidence if governments assumed that they could extort private enterprises at will?" Wei added.
Noting China will not allow these people to get their way, Wang stressed that China rejects any attempt to create a so-called "new Cold War", because it contravenes the fundamental interests of the Chinese and American peoples and the global trend toward development and progress.
The minister added that Cambodia often acknowledged its advocacy to regional and global integration, especially in trade.
The companies, in line with market principles and international rules, have conducted commercial activities in the United States while following local laws and regulations, Wang told a daily press briefing.
Xiong Wei with Cainiao Network, the logistics arm of Alibaba Group, said the new route allows low-cost small commodities like mobile phone cases and toilet covers to be shipped via charter flights, thus providing a new export channel for small and medium-sized businesses.
"These have been the sources of China's economic boom and Cambodia is using China as a role model in our economic development as well," he said.