The Korean Senior Citizens Association of Cambodia (KSCAC) and its South Korean partners are eyeing investment opportunities in seven Cambodian agricultural products for export to Korea and China.
The targeted crops include dried pepper and mango, banana chips, sesame oil, aquaculture products, and kapok and rubber tree processing.
In a press release on January 28, the Ministry of Agriculture, Forestry, and Fisheries advised thorough economic analysis to ensure successful investment in these crops. During a meeting between ministry secretary of state Prak David and KSCAC vice-president Kim Moon-baik, along with other Korean companies, investment discussions were held.
Kim praised the quality and popularity of Cambodian agricultural products in Korea, expressing interest in expanding exports to Japan and China.
David welcomed the investment interest, aligning with government policies and benefiting from free trade agreements with China, South Korea, and the Regional Comprehensive Economic Partnership (RCEP). However, he advised further economic study, particularly for sesame.
Hun Lak, CEO of Tropicam Fruit and Vegetable Co Ltd and Longmate Agriculture Co Ltd, emphasized the importance of private sector investment in Cambodian agriculture, considering climate change's impact on food security and market values. He urged investors to integrate advanced technology to minimize risks and enhance productivity.
According to the ministry, horticultural crops planted in 2023 exceeded targets by 53.4%, while industrial crops surpassed expectations by 56.51%, contributing to $4.306 billion in agricultural exports, with non-rice exports valued at $2.799 billion.
Source: www.phnompenhpost.com