Cambodia, China Sign Agreement to Promote Rice Exports

Cambodia and China have reached a cooperative agreement to boost the export of at least one million tons of milled rice annually.

The update was shared in a press release of the Ministry of Commerce, detailing that H.E. Minister Pan Sorasak � on behalf of the state-owned Green Trade Co., Ltd. � inked the accord with the Chinese side represented by Mr. Chen Xianjia, Chairman of CITIC Construction Co., Ltd.

Deputy Prime Minister and Minister of Economy and Finance H.E. Aun Pornmoniroth witnessed the official signing happening at the Ministry of Economy and Finance yesterday.

Within the agreement framework, twelve rice warehouses with the capacity to hold 827,000 tons of paddy-milled rice, and ten silos that can dry 13,000 tons of paddy every day will be constructed using the loans from China.

Those rice warehouses and silos will be situated in the provinces of Pursat, Battambang, Takeo, Banteay Meanchey, Siem Reap, Kampong Thom, Kampong Cham, Prey Veng, Kandal, Kampong Speu and Preah Sihanouk.

With the existence of the facilities mentioned, local farmers can store their rice for longer period until the best time to sell the crops.

The agreement also includes special loans for farmers to boost their rice production for exports.

Source: Agency Kampuchea Press