PHNOM PENH: Investors from South Korea eye the possibility of establishing a cashew processing plant in Cambodia to promote added value and boost exports.

The intention was discussed on Aug. 3 between H.E. Reach Ra, Secretary of State of the Ministry of Commerce, and a delegation from the Korea Rural Economic Institute and the Korea Oversea Agro-Resourced Association (AOAA), led by Project Manager Dr. Heo Jang, here in Phnom Penh.

Dr. Heo Jang said that in the past, most of Cambodia’s cashews were exported unprocessed, leading to a loss of added value. Therefore, AOAA intends to seek the possibility of establishing a cashew processing plant through the official development project of the South Korean government to increase the added value of Cambodia’s cashews for export to the world market.

For his part, H.E. Reach Ra welcomed the initiative, which is well in line with Cambodia’s National Cashew Policy 2022-2027. Cambodia and South Korea have entered a free trade agreement (FTA), so the export of products, including cashew nuts, from Cambodia is free of tariff, he continued.

He also encouraged the Korean delegation to help attract more Korean investors to invest in cashew processing in Cambodia and buy more goods from the country.