Belarus ready to transfer technologies to Cambodia

Belarus is ready to transfer its technologies to Cambodia to implement big and strategic projects, Belarusian Prime Minister Mikhail Myasnikovich said as he met with the Cambodian delegation led by Prime Minister of Cambodia Hun Sen on 23 April, BelTA has learnt.

“If we agree on implementing large-scale strategic projects, we will be ready to consider transferring technologies to your country,” the Belarusian Premier said. He noted that the bilateral trade should be complemented by cooperation in the financial sector, investments and innovations.

According to Mikhail Myasnikovich, at present political contacts between Belarus and Cambodia are far ahead of economic cooperation. He expressed hope that the documents to be signed on 23 April will “significantly improve the legal and treaty basis of the bilateral cooperation”. Besides, the ongoing FTA talks between the Customs Union and ASEAN are also expected to contribute to closer ties between the two countries.

The Belarusian head of government believes that Belarus and Cambodia do not take full advantage of cooperation opportunities. Therefore, the Belarusian Premier deems it necessary to step up efforts to build up economic ties.

Cambodian Premier Hun Sen noted: “The two countries are well positioned to complement each other economically”. He is convinced that the ongoing visit of the Cambodian delegation will make a remarkable contribution to the development of the bilateral relations. Hun Sen noted that it is the first time during his 30 years as the Cambodian head of government that so many documents are signed during one visit.

Six agreements and three memoranda of understanding are to be signed in Minsk on 23 April. They include the intergovernmental agreement on mutual protection of investments, the intergovernmental cooperation agreement in trade and economy and the intergovernmental cooperation agreement in the defense industries, a memorandum of understanding between the central banks of Belarus and Cambodia.

According to the government, in 2013 Belarus-Cambodia trade totaled $6.3 million, nearly twice as much as in 2012. In January-February 2014, the bilateral trade exceeded $1.4 million, up 31.3% from the same period in 2013. Belarus’ major exports to Cambodia are tractors and potash fertilizers. Now Belarusian tractors account for nearly half of all tractors used in Cambodia. A plant assembling MTZ tractors was commissioned there at the end of March 2014.