Cambodia’s Ministry of Agriculture and Chinese company Hun Ty met recently to discuss ways of increasing exports of Cambodian products to the Chinese market, which include a potential partnership with Tain Jin Trade Free Zone to promote Cambodian agricultural goods abroad.
“The objective of the meeting is to study the mechanism of exporting agricultural products to China in a fast and efficient manner to meet the needs of the Chinese market, focusing on quality, safety and generating value,” the ministry said in a statement.
Hun Ty has already invested $10 million to build a factory on four hectares of land in Phnom Penh’s Sen Sok district, according to the ministry.
The company has also signed a memorandum of understanding with the ministry to conduct operations in the country.
Wong Yung, Tain Jin Trade Free Zone’s director, said Cambodia has great potential in agriculture, adding that with China now trapped in a trade row with the US, the kingdom must take advantage of the opportunity to strengthen trade ties with the East Asian giant.
“To take advantage of this opportunity, we plan to invest in a processing plant for agricultural products in Preah Sihanouk to meet demand in the Chinese market, especially fish, rice and mango products,” Mr Wong said.
“We hope that through the exchange of agricultural products, cooperation, solidarity and friendship between the two countries will be enhanced.”
Veng Sakhon, the Minister of Agriculture, expressed support for the companies’ plans for Cambodia.
“In the past we produced to guarantee our own food security, but now Cambodia needs to produce for processing and exporting. This will boost national economic growth and alleviate poverty,” he said.