Phnom Penh (FN), April 26 - Cambodia-China agreed on a draft Memorandum of Understanding (MoU) on the purchase of 400,000 tons of rice from Cambodia, and that the MoU will be signed at the 2nd Belt and Road Forum in Beijing on 27 April 2019, according to the Ministry of Commerce press release dated Thursday.
The new MoU’s term will last from August 2019 to late December 2020, effective immediately after the two parties successfully implemented the first MoU signed on 11 January 2018 on 300,000 tons quota.
The two parties will establish a Joint Business Control Mechanism to monitor the implementation of MoU quarterly to address emerging challenges.
In 2018, Cambodia exported 626,225 tons of rice to international markets, having China as the largest importer, 170,000 tons, followed by France 90,000 tons, and Malaysia 40,000 tons.
Cambodian Prime Minister Hun Sen departed Phnom Penh this Thursday morning to attend the 2nd Belt and Road Forum for International Cooperation and a series of events and meetings in Beijing from 25 to 29 April 2019 at the invitation of Chinese President Xi Jinping.