PHNOM PENH: Cambodia will initially export in-shell cashew nuts (M23 type) worth approximately US$35 million to China, with plans to increase the export value to US$400 million in the future, following the signing of a Memorandum of Understanding (MoU) between Cambodian and Chinese companies.
The MoU on the “Supply Contract of Cambodian Cashew Nuts” was signed on Wednesday at the Ministry of Commerce under the witness of H.E. Samheng Bora, Secretary of State and Chairman of the Export Promotion Task Force (EPTF).
The Ministry of Commerce said the achievement reflects the active coordination and business-matching efforts of the EPTF, which plays an important role in linking Cambodian exporters with international buyers.
The cooperation between the two companies is expected to support the continued growth of Cambodian cashew exports to the Chinese market, while also sending a positive signal to attract more Chinese investors to Cambodia and promote the broader expansion of the country’s agricultural exports globally, the Ministry underlined.
The signing ceremony took place following a meeting between H.E. Samheng Bora and a Chinese business delegation led by Mr. Jiang Xiaofei, Director of the Overseas Enterprise Expansion Working Committee of the China Institute for Innovation and Development Strategy (CIIDS). The delegation also included representatives from China Bonded Port Group Co., Ltd. and Men Sarun MDR Co., Ltd.
Senior officials from the Ministry of Commerce, including the Undersecretary of State, the Director General of Trade Promotion, and technical officers, also attended the meeting.
The discussions focused on strengthening and expanding bilateral economic, trade, and investment cooperation between Cambodia and China, particularly by exploring opportunities to increase Cambodian agricultural exports.
H.E. Samheng Bora welcomed the delegation and highlighted the importance of developing Cambodia’s agro-industry sector and value chains, which play a key role in the country’s sustainable economic growth.