Saudi Arabia and Cambodia Explore Potential Rice Trade Agreement

Given neighborhood news in Cambodia toward the finish of 2024, Saudi Arabia and Cambodia on Monday investigated chances to reinforce two-sided relations, especially in the farming area. This move comes as the two nations look to improve financial collaboration and investigate new exchange roads. Senate President Hun Sen and Abdullah Mohammed Ibrahim Al-Sheik, Director of the Consultative Gathering of the Realm of Saudi Arabia had boundless conversations on these possible subjects in Riyadh.

Mr Hun Sen, who is driving an undeniable level designation, said, “The visit is further to advance respective relations between the two nations, particularly in elevating individuals to-individuals trades, the travel industry and sports, as well as exchange and speculation relations.”

Cambodia is wealthy in rice creation and rice overflow which can make trades more to abroad, particularly to Saudi Arabia, Mr Hun Sen said during the gathering. “Cambodia and Saudi Arabia ought to begin collaboration in center regions by trading rice to Saudi Arabia since Cambodia has a superior water system framework and an excess of rice,” he said. He likewise mentioned the Executive of the Consultative Gathering to urge Saudi Middle Eastern financial backers to put resources into setting up rice processing, stockpiling, and bundling machines in Cambodia for sending out rice to Saudi Arabia and different nations in the district.

The proposed understanding means to send out Cambodian rice to the Saudi Middle Eastern market, which could altogether support Cambodia’s agrarian products. This advancement comes as the two nations try to upgrade financial participation and investigate new exchange roads. The Cambodia Rice Organization (CRF) has extended and investigated the rice market in the Center East and Africa, drawing in huge premiums from likely purchasers. One of its missions was the CRF’s support in the Saudi Food Exhibition which lines up with the Cambodian government’s drive to broaden rice trade markets in May this year.

Saudi Arabia, the biggest country in the Center East is encountering huge financial development and is an expected market for Cambodian rice, which can assume a urgent part in extending the market for the Center East and Africa, CRF said. Cambodia-Saudi Arabia reciprocal exchange added up to $26 million in 2021, an increment of almost 40% contrasted with 2020, which was $19 million, as per the most recent information from the Service of Business.