Cambodian, Chinese firms ink MoUs on business cooperation

PHNOM PENH, May 18 (Xinhua) -- Cambodian and Chinese firms on Friday signed a number of memorandums of understanding (MoUs) on business cooperation in the fields of agriculture, mineral resources, food, garment, and electronic products.

Ten MoUs were signed between Chinese companies and a Cambodia's Power Partner Profit Group under the witness of Serei Kosal, Cambodia's senior minister in charge of special mission.

The Chinese firms engaged in the MoUs including Yunnan Yunmanganese Group doing business in mineral exploitation, water resource and electric power, real estate and rubber; Sinsing Rubber; Sichuan Jingong Chuanpai Flavoring; and Gao Shun Settles Down doing business in cassava.

Speaking at the signing ceremony, Lt. Gen. Yim Sawvy, Chief Executive Officer of Cambodia's Power Partner Profit Group, said the 10 MoUs are involved in the business cooperation on natural rubber, rice, cassava, wooden furniture manufacturing, black pepper, mineral resources, electronic projects, industrial equipment products, clothing material, and chicken soup ingredient products.

He said through the MoUs, his group of companies expect to export 60,000 tons of rubber latex, 500,000 tons of rice, 1 million tons of cassava, and 3,500 tons of black pepper to China to supply those Chinese firms.

Vijit Yang, chairman of ASEAN-China Economy and Trade Promotion Association, which coordinated the business cooperation, said that through the MoUs, the bilateral trade and investment between Cambodia and China will be further promoted and the two countries' investors have moved closer.

Meanwhile, Serei Kosal said the cooperation would deepen business relationship and strengthen connection between Cambodia's business people and China's investors.

"Cambodia sees China as a big market for Cambodian products, especially for agricultural ones," he said, "we hope to see more Cambodia's exports to China after the MoUs were signed."