Cambodia is expected to export more milled rice to China in coming years thanks to the entry into force of the Regional Comprehensive Economic Partnership (RCEP) trade deal and the Cambodia-China Free Trade Agreement (CCFTA) earlier this year, Song Saran, president of the Cambodia Rice Federation (CRF), has said.
A report released by CRF on Saturday showed that China remained a major buyer of Cambodia’s milled rice in the first 10 months of 2022.
“These FTAs will further ease trade in goods between Cambodia and China as well as other participating countries,” Saran told Xinhua.
“Both trade deals have provided a bigger market access for Cambodia’s products, and I think it will attract more foreign investors to invest in various sectors, including in the rice industry, in order to export finished products to those RCEP member countries, with tariff concessions,” he said.
Ministry of Commerce’s Undersecretary of State Penn Sovicheat said the RCEP and the CCFTA have given and will continue to give a big boost to Cambodia’s exports to China and other member countries.
“China is a huge market for us,” he told Xinhua. “Under both trade pacts, we believe that the exports of our potential agricultural products such as rice, cassava, bananas, mangoes, and longans, among others to China will continue to grow in coming years.”
From January to October, Cambodia’s milled rice exports to international markets reached 509,249 tons, up 10.6 percent year-on-year, earning gross revenue of 324 million U.S. dollars, the report said, adding that the milled rice had been shipped to 56 countries and regions.
Exported milled rice varieties included fragrant rice, long grain white rice, parboiled rice, organic rice and glutinous rice, it said. Xinhua
This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources.
