By Press and Quick Reaction Unit of the Office of the Council of Ministers, Cambodia
SIEM REAP-ANGKOR, Cambodia, Dec. 10, 2009: Cambodia co-chaired with Pakistan held a two-day seminar on “social market economy” with the participation of 16 representatives of Asian political parties aimed at exchanging views and experiences to find a suitable policy, which could be applied for their own national strategy.
Mr. Yos Son, Chairman of the Commission for International Affairs, of the Cambodian People’s Party (CPP), said at the opening remarks that the representatives from the said political parties, many of them are the ruling parties, can share their experiences in contribution to the establishment of an “Asian Community”.
“We are hoping that this Community would become one-family in which all members will obtain peace, security, stability, prosperity and sustainable development,” Mr. Yos Son addressed in the meeting, which is held in Siem Reap, the land of treasures and smile.
He also said that “the leaders of the Cambodian People’s Party have highly valued the key role of the social market economic system, which guaranteed the balance between the free market economy and the social security system.”
Cambodia, under the great leadership by Prime Minister Hun Sen of CPP, has been moving on the right track over the last 30 years since the Party drove the Khmer Rouge from power in 1979, the regime which was blamed for the death of an estimated more than 2 million who died of starvations, executions, diseases and forced labors.
“The CPP has acquired a number of great experiences from the implementation of its economic policy along the line of free market economic system,” he said.
Cambodia’s growth hit double digits between 2005 and 2007 thanks to the government’s policy of free market economy, which brought along the multi-billion investment of foreign direct investment (FDI).
The boom of construction of physical infrastructure to support the increasing demands of tourism industry, the garment exports and the country’s bountiful commodity also largely contributed to this Southeast Asian nation’s growth.
Cambodia’s officials have said, despite the global downturn began in mid-2008, the impact on its economy was not much—given the country’s key sector of agriculture and tourism are in good shape.
Some participants praised Cambodia’s efforts to overcome the financial crisis.
“Having seen wars... and conflicts, Cambodia has demonstrated this resilience by bouncing back after overcoming crises and difficulties,” said Mushahid Hussain Sayed, Secretary General of Pakistan Muslim League, told the seminar.
“Today, Cambodia is a vibrant democracy and a thriving economy,” he told the floor.
This seminar will be concluded on Friday with the keynote remarks by His Excellency Dr. Sok An, Deputy Prime Minister, Member of the Standing Committee of the Cambodian People’s Party and also Vice-President of CDI- Asia Pacific since 2006.