Czech Republic writes off Cambodia’s 3 mln USD debt

14/05/2008 -- 2:03 PM

Phnom Penh (VNA) – The Czech Republic on May 13 announced that it will remit a 3 million USD debt that Cambodia borrowed from 1983-1985 for construction of textile companies and food processing facilities. The decision, which came following the recent visit to Cambodia by a high-ranking delegation of the Czech government, aims to help reduce Cambodia’s financial difficulties. During the two-day stay in Cambodia on May 12 and 13, the Czech delegation held had talks with Prime Minister Hun Sen of the host country and had working sessions with the Ministry for Foreign Relations and International Cooperation and the Ministry of Finance and Economy on ways to further boost bilateral trade and better protect Czech entrepreneurs in Cambodia. The two sides also inked a memorandum of understanding on opening a direct flight route between the two countries’ capital cities. At present, annual two-way trade between Cambodia and the Czech Republic stands at the modest level of 5 million USD.- Enditem
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