On Monday, Cambodia and Saudi Arabia sought opportunities to strengthen bilateral ties, especially in the agricultural sector, as the two countries aim to strengthen economic and trade cooperation.
Senate President Hun Sen and Saudi Parliament Speaker Abdullah Mohammed Ibrahim Al-Sheikh held extensive discussions on these topics in Riyadh.
“This visit is to further promote bilateral relations between our two countries, especially in promoting people-to-people exchanges, tourism and sports, as well as trade and investment ties,” Hun Sen said.
He also suggested in the meeting that Cambodia and Saudi Arabia should start cooperation in the core sector by exporting rice to Saudi Arabia, because Cambodia has a better irrigation system and a rice surplus.”
He also asked the Saudi Parliament Speaker to encourage Saudi investors to invest in setting up rice milling, storage and packaging facilities in Cambodia for exporting rice to Saudi Arabia and other countries in the region.
The proposal aims to export Cambodian rice to the Saudi Arabian market, which could significantly boost Cambodia’s agricultural exports as the two countries seek to strengthen economic and trade cooperation.
The Cambodian Rice Federation (CRF) has been expanding and exploring rice markets in the Middle East and Africa, attracting strong interest from potential buyers.
One of the CRF’s missions in the Saudi Food Fair is in line with the Cambodian government’s initiative to diversify its rice export market in May this year.
The CRF said that Saudi Arabia, the largest country in the Middle East, is experiencing strong economic growth and is a potential market for Cambodian rice, which can play a key role in expanding the market for the Middle East and Africa.
The Cambodia-Saudi Arabia bilateral trade volume is expected to reach $26 million in 2021, up nearly 40 percent from $19 million in 2020, according to the latest data from the Ministry of Commerce.
