Logo of Phnom Penh Post newspaper Phnom Penh Post - Kingdom signs agro MoU with Hungary

Kingdom signs agro MoU with Hungary

Content image - Phnom Penh Post
Cambodian Minister of Agriculture, Forestry and Fisheries Veng Sakhon and Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto take photos together after signing a memorandum of understanding (MoU) on Tuesday. Agriculture Ministry

Kingdom signs agro MoU with Hungary

The agricultural and agribusiness industry are in great spirits after the Kingdom signed a memorandum of understanding (MoU) with Hungary on cooperation in the sector.

The MoU is expected to provide a shot in the arm for agricultural exports and allure more Hungarian investors to the Kingdom.

The agreement was inked by Cambodian Minister of Agriculture, Forestry and Fisheries Veng Sakhon and Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto on Tuesday at a ceremony presided over by Prime Minister Hun Sen.

Sakhon said Hungary’s agricultural sector plays a crucial role in the country’s economy, accounting for about eight per cent of gross domestic product (GDP).

He described the adoption of agricultural technology, agricultural processing and water management as Hungarian success stories.

“The signing of the MoU will bring about fruitful development in the field of agriculture and agribusiness down the line, and the Cambodian side will effectively and effeciently implement its contents for the benefit of Cambodian society and people,” Sakhon said.

He listed three sub-sectors to offer for Hungarian investors – dairy production and meat processing; aquaculture; and crop growing and food security.

“Cambodia has the potential to invest in the production of crops for export, such as rice, mango, cassava, cashew and tobacco, as well as aquaculture,” he said.

Chan Pich, general manager of rice miller and exporter Signatures of Asia Co Ltd, told The Post that his company exported between 500-600 tonnes of fragrant milled rice to Hungary in the first 10 months of this year.

“The MoU will afford us more opportunities in the agricultural sector. The market in Hungary is also quite open for Cambodian milled rice, which is ordered in fixed quantities,” he said.

Thourn Sinan, former country director of the Hungarian Cambodian Trading House, said the MoU was a new step in bilateral cooperation with Hungary in promoting trade and investment relations.

He said: “This is a very good start given that Hungary is one of the agricultural powerhouses in Eastern Europe. If Cambodia could ramp up ties with the country, it would help our agriculture flourish, particularly in the area of food safety.

“This could be the lucky break for a number of Cambodian agricultural products to be shipped there, including pepper, sesame, soybeans or anything else they’re interested in.

“If we can ramp up quality and keep prices low, it’d be a bonafide opportunity.”

According to Sakhon, the Kingdom exported 1,839 tonnes of rice and 118 tonnes of tobacco to Hungary in the first 10 months of this year.

MOST VIEWED

  • Joy as Koh Ker Temple registered by UNESCO

    Cambodia's Koh Ker Temple archaeological site has been officially added to UNESCO’s World Heritage List, during the 45th session of the World Heritage Committee held in Riyadh, Saudi Arabia, on September 17. The ancient temple, also known as Lingapura or Chok Gargyar, is located in

  • Ream base allegations must end, urges official

    A senior government official urges an end to the allegations and suspicions surrounding the development of Cambodia’s Ream Naval Base, now that Prime Minister Hun Manet has addressed the issue on the floor of the 78th UN General Assembly (UNGA 78). Jean-Francois Tain, a geopolitical

  • Cambodia set to celebrate Koh Ker UNESCO listing

    To celebrate the inscription of the Koh Ker archaeological site on UNESCO’s World Heritage List, the Ministry of Cults and Religion has appealed to pagodas and places of worship to celebrate the achievement by ringing bells, shaking rattles and banging gongs on September 20. Venerable

  • CP denied registration documents by ministry

    The Ministry of Interior will not reissue registration documents to the Candlelight Party (CP). Following a September 21 meeting between ministry secretary of state Bun Honn and CP representatives, the ministry cited the fact that there is no relevant law which would authorise it to do

  • Manet touches down in Beijing for high-level meetings

    Prime Minister Hun Manet arrived in Beijing on September 14 for his first official visit to China, where he is slated to attend the 20th China-ASEAN Expo and meet other leaders including Chinese President Xi Jinping. Upon his arrival, Manet laid a wreath at the Monument

  • Cambodian diaspora laud Manet’s UN Assembly visit

    Members of the Cambodian diaspora are rallying in support of Prime Minister Hun Manet’s forthcoming visit to the 78th UN General Assembly (UNGA 78) in the US’ New York City this week. Their move is an apparent response to a recent call by self-exiled former