China has agreed to increase its import quota for Cambodian rice to 300,000 tonnes by next year, Prime Minister Hun Sen announced yesterday following his return from Beijing where he attended the Belt and Road initiative summit.
In a post to his official facebook page, Hun Sen detailed a conversation he had with Chinese president Xi Jinping, who said China would increase its imports of Cambodian rice from the previously agreed limit of 200,000 tonnes a year to 300,000 tonnes in 2018. The message also said Xi expressed hope that bilateral trade between the two countries would reach $6 billion by 2020.
Hun Sen added that during his visit earlier this week he sought to promote Cambodian trade and tourism ties with China. He added that Cambodia will seek to open trade centres in several Chinese provinces to exhibit some of the Kingdom’s export products and provide information related to tourism and investment opportunities.
He called for Chinese businessmen to further invest in Cambodia, noting the country’s peace and macroeconomic stability.
The Cambodian premier said he was impressed by the outcome of the Belt and Road initiative summit due to its potential to increase connectivity between countries in the region and the rest of the world.
The prime minister added that 100 Chinese companies were currently looking to invest in a special economic zone near Sihanoukville, symbolising the strong economic relationship between the two countries.