December 16, 2014
Six pairs of Chinese and Cambodian firms signed off on a
half-dozen business deals over the past two days in Phnom Penh worth
more than $1.5 billion, the bulk of it for a five-year stone crushing
project.
“Some Chinese companies signed business deals to buy products from
Cambodian companies, while some signed deals to sell products to
Cambodian companies,” Chheav Pha, who heads the Commerce Ministry’s
marketing department, said Monday at the start of a four-day trade expo.
Mr. Pha said Cambodia’s King Crushing Stone Company signed a
five-year deal worth $1.5 billion Monday with China’s Yong Jun Stone
Crushing for a project in Cambodia, but had no further details about the
agreement.
He said deals were also signed at the expo to export 200,000 tons of
cassava chips to China for $49 million, to import wood drying machines
from China for $1.2 million, and for the development of a Chinese-backed
condominium project in Cambodia worth $17 million.
At a separate event in Phnom Penh on Sunday, Khmer Brewery Limited,
the maker of Cambodia beer, inked a deal that will see China’s Fuzhou
Newgroup Industry distribute the beer across China.
Sok Chantha, business development manager for the Chip Mong Group,
which owns Khmer Brewery, said Monday that the deal would last one year,
but declined to say how much beer would be exported or reveal the value
of the agreement.
“The importer was interested in our beer and thought that the quality
of our beer was good enough to compete with others in the Chinese
market,” Mr. Chantha said. “So they asked for a deal with us to export
our beer over there and we are happy to do it, because it’s a good
opportunity to expand our market.”
Also on Sunday, Cambodia’s Mekong Oryza Trading penned a tentative
deal with a Chinese firm to export 30,000 tons of milled rice over the
course of the coming year.
Mekong Oryza director Hun Lak said the price was still under negotiation.
“I think that China will keep importing more milled rice from
Cambodia because the importers recognize the quality of our milled
rice,” he said.
In August, Cambodia’s state-owned Greed Trade agreed to a deal with China to export 100,000 tons of milled rice.
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