PHNOM PENH, Aug. 12 (Xinhua) -- Implementing outcomes of the recently-concluded meeting of the Cambodia-China Intergovernmental Coordination Committee will promote Cambodia's development and inject new impetus to the community of shared future between the two countries, Cambodian Deputy Prime Minister Hor Namhong said on Wednesday.

Held in mid-June via video conference, the fifth meeting of the Cambodia-China Intergovernmental Coordination Committee was co-chaired by Namhong and Chinese State Councilor and Foreign Minister Wang Yi.

Namhong said the meeting was very important during which both sides signed a memorandum of understanding on promoting the coordinating role of the Cambodia-China Intergovernmental Coordination Committee in implementing the plan of action for building the Cambodia-China community of shared future (2019-2023).

"We agreed on a To-Do-List of the 5th meeting in order to follow up effectively what we have agreed during the meeting, covering politics, economy, security, cultural and people-to-people exchange and multilateral cooperation," he told Xinhua.

On the economic front, the Cambodian deputy prime minister said many priority sectors had been agreed to be implemented and to be sped up in order to support Cambodia's economy during and after the COVID-19 pandemic.

He said the two countries wrapped up their negotiations on the bilateral Free Trade Agreement (FTA) on July 20. "This FTA between Cambodia and China will increase notably trade between the two countries."

He added that China also pledged to continue supporting Cambodia's key infrastructure projects, including national roads, bridges, sewage treatment projects, rural power grids and irrigation systems, among others.

In agriculture, Namhong said both sides would expedite the recently-signed agreement on the export of Cambodian mangoes to China, and actively expand exports of Cambodian rice, bananas and other quality agricultural products to China.

He said China also pledged to assist Cambodia in formulating modern agricultural development plans, such as agro-industrial parks and the construction of rice storage system, and help Cambodia optimize its industrial structure and upgrade its level of industrialization.

The two sides also agreed to hold an event on trade and investment between the two countries in an appropriate time, he added.

"I think that speeding up the realization of these sectors would contribute to the socio-economic development of Cambodia during this difficult period caused by the COVID-19 pandemic," said Namhong.