Cambodia and Saudi Arabia Monday explored opportunities to strengthen bilateral relations, particularly in the agricultural sector. This move comes as both countries seek to enhance economic cooperation and explore new trade avenues.
Senate President Hun Sen and Abdullah Mohammed Ibrahim Al-Sheikh, Chairman of the Consultative Assembly of the Kingdom of Saudi Arabia held wide ranging discussions on these potential subjects in Riyadh.
Mr Hun Sen, who is leading a high level delegation, said, “The visit is further to promote bilateral relations between the two countries, especially in promoting people-to-people exchanges, tourism and sports, as well as trade and investment relations.”
Cambodia is rich in rice production and rice surplus which can make exports more to abroad especially to Saudi Arabia, Mr Hun Sen said during the meeting.
“Cambodia and Saudi Arabia should start cooperation in core areas by exporting rice to Saudi Arabia because Cambodia has a better irrigation system and a surplus of rice,” he said.
He also requested the Chairman of the Consultative Assembly to encourage Saudi Arabian investors to invest in setting up rice milling, storage, and packaging machines in Cambodia for exporting rice to Saudi Arabia and other countries in the region.
The proposed agreement aims to export Cambodian rice to the Saudi Arabian market, which could significantly boost Cambodia’s agricultural exports. This development comes as both countries seek to enhance economic cooperation and explore new trade avenues.
The Cambodia Rice Federation (CRF) has expanded and explored the rice market in the Middle East and Africa, attracting significant interest from potential buyers.
One of its missions was the CRF’s participation in the Saudi Food Expo which aligns with the Cambodian government’s initiative to diversify rice export markets in May this year.
Saudi Arabia, the largest country in the Middle East is experiencing significant economic growth and is a potential market for Cambodian rice, which can play a crucial role in expanding the market for the Middle East and Africa, CRF said.
Cambodia-Saudi Arabia bilateral trade amounted to $26 million in 2021, an increase of nearly 40 percent compared to 2020, which was $19 million, according to the latest data from the Ministry of Commerce.
