Chinese state-owned enterprise Sinomach Hainan signed a memorandum of understanding with Cambodian companies for exports to China of 20,000 tonnes of dry cashews and 5,000 tonnes of processed cashews annually over the next three years, with a reported agreement value of approximately US$35 million.
The September 12 signing at the Ministry of Commerce was witnessed by Secretary of State and Export Promotion Task Force chairman Samheng Bora and Zou Zhun, head of Agricultural Department 1 representing Sinomach Hainan. Representatives of five companies from Hangzhou and Guangxi, Cambodian cashew producer Kampu Nuts Agro Product Co., Ltd. and the Cambodian cashew industry association also participated.
The secretary of state welcomed the company’s investment and exports of Cambodian products to China and encouraged it to explore further investment in domestic cashew processing and the country’s cashew value chain.
The report presents the MoU as reflecting efforts by the government, through the commerce ministry and cashew industry association, to maintain existing markets, expand new markets and attract additional investment in the cashew sector.
Reported by Preah Sihanouk Provincial Television. By ង៉ែត ពិសាន្ត.
