It is a great pleasure for me to once again welcome Prime Minister Hun Sen. This state visit of his is taking place after a gap of ten years.
Even though Prime Minister you yourself are well aware of India and India with you, I am sure that during this visit you have got an opportunity to closely witness its economic progress and social changes.
Two days ago during the ASEAN INDIA Commemorative Summit ASEAN-India cooperation was discussed in detail.
Leaders of 10 ASEAN countries and India made important decisions so that in the near future the cooperation of India and ASEAN scales new heights.
In this regard Prime Minister Hun Sen has honored us by his acceptance of my invitation and his gracious presence during the summit.
Not only this, you have made valuable contributions in the discussions and outcomes of the summit. I heartily thank you for that.
Ancient historic relations of India and Cambodia became even more intense in the second half of the last century when India stood shoulder to shoulder with its old friend and its citizens during the political changes in Cambodia.
Prime Minister Hun Sen agree that according to the contemporary requirements today we need to further deepen our relations in all areas.
India is not only willing but it is committed to extend its partnership with Cambodia in all the areas like economic, social development, capacity building, culture, trade, tourism and people to people contacts.
Our shared heritage is a very important part of our cultural relations. Restoration of the historic Angkor Wat Temple built in the 12th century is an example of this cooperation.
India is the fastest growing large economy in the world. Since we have similar values and cultural ethos, we can have a natural synergy in enhancing trade between our two countries.
Liberal economic policies of Cambodia and establishment of the ASEAN Economic Community provides a good opportunity for Indian investments in Cambodia particularly in areas such as health, medicine, information technology, agriculture, automobile and auto parts, textile, etc.
We have proposed several more lines of credit for projects according to the requirements of government of Cambodia particularly in the areas of health, connectivity, digital connectivity.
Every year India is implementing 5 quick impact projects in Cambodia. We have decided to increase the number of these projects annually from 5 to 10. We have also established a Project Development Fund of 500 crore rupees.
This fund can be utilized for expanding industry and business and also to make the supply chain cost effective.
Enhancing existing synergies India and Cambodia will continue to support each other on international forums.
Finally, I thank Prime Minister Hun Sen for his visit to India as an integral friend and a respected guest of India. I hope that his stay in India will be pleasant and memorable.