PHNOM PENH: H.E. Chan Seyha, the deputy CEO of the Agricultural and Rural Development Bank (ARDB), along with his colleagues, held a meeting with the delegation of the Foreign Economic Cooperation Center, Ministry of Agriculture and Rural Affairs of the People’s Republic of China (MARA.P.R. China) yesterday.
The purpose of the meeting was to discuss the Cambodia-China Agricultural Development Plan, which aims to entice Chinese investors to invest in Cambodia’s agricultural sector.
During the meeting, H.E. Dr. KAO Thach, the Royal Government Delegate in charge, was represented by H.E. Chan Seyha as CEO of ARDB. Additionally, a representative from the Ministry of Agriculture, Forestry and Fishery took part in the discussion. ARDB shared information about its policies, projects, and primary role as a state-owned policy bank that concentrates on the agricultural sector and rural development.
The Chinese delegation expressed interest in the ARDB’s activities and policies and hoped for further collaboration with ARDB in the future. The meeting helped foster a better understanding between both parties and laid the foundation for possible future cooperation and investment.
Based on a report from the General Department of Customs and Excise, the total trade volume between Cambodia and China declined by 15.6 percent year-on-year, reaching $1.7 billion during the first two months of 2023.
However, despite the decrease in trade volume, China still maintained its position as Cambodia’s largest trading partner. The United States, Vietnam, and Thailand also followed closely in terms of trade partnerships with Cambodia.
During the January-February period, trade with China accounted for 24 percent of Cambodia’s overall trade volume of $6.8 billion.