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24-Aug-2005
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By Rosli Abidin Yahya

Bandar Seri Begawan - A local businessman yesterday paid a cordial visit to the Ambassador of the Royal Embassy of Cambodia in an effort to strengthen relations as well as scrutinise investment opportunities in Cambodia.

Kapitan China Kornia Diraja Pehin Lau Ah Kok, Chairman of Hua Ho Departmental Store, Hua Ho Agricultural Farm and Hua Ho Culture Foundation, was received by Ambassador Ith Dettola at the embassy in Kg Tasek Meradun, Jalan Tutong.

Ambassador Ith Dettola invited Pehin Lau to venture into Cambodia, especially after the nation was found to have huge reserves of oil and gas.

According to the ambassador, US giant Chevron Texaco (CVX) will begin explorations on the wells - located 140 kilometres off the port city of Sihanoukville - in October.

"A preliminary estimation showed the area has some 3 to 5 trillion cubic metres of gas and 400 million barrels of oil," he said.

He added that Cambodia would officially become the 148th member of the World Trade Organisation (WTO) on October 13.

The decision to join WTO will create bigger markets for Cambodia thus creating more jobs as well as meeting the poverty reduction strategy.

"It will also offer the country and the Cambodian people a path to reintegrate the economy fully into the world mainstream trading system," he said.

Ambassador Ith Detoila also extended an invitation to Pehin Lau to attend a celebration to mark the National Day of Cambodia on November 9, at the JPCC Polo Club, Jerudong, from 8 to 10 pm.

Meanwhile, Pehin Lau said he welcomed Cambodians to work at his establishments.

At the end of the visit, both parties exchanged souvenirs. -- Courtesy of Borneo Bulletin

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