ARDB, GXAAS ink MoU to boost Kingdom’s agri sector
ARDB, GXAAS ink MoU to boost Kingdom’s agri sector
Agriculture and Rural Development Bank (ARDB), Cambodia’s leading agricultural bank, and the Guangxi Academy of Sciences (GXAAS) Tuesday signed a Memorandum of Understanding (MoU) to collaborate on agricultural science and technology innovation.
The partnership aims to enhance agricultural productivity, competitiveness, and exports, particularly exports of agricultural products to China’s markets.
ARDB Director General Kao Thach witnessed the signing ceremony held on September 24 in Nanning, Guangxi Province.
Expressing optimism, Thach said that many great achievements will be made that are beneficial to the agricultural sector in Cambodia, especially to the benefit of Cambodian farmers.
“The MoU is expected to significantly contribute to Cambodia’s agricultural development and economic growth,” he said.
Thach also requested the relevant parties and the GXAAS and Technology Group Co Ltd to examine the possibility of investing in the agricultural sector in Cambodia, bringing with them cutting-edge technologies and techniques to contribute to the modernization of agriculture in the Kingdom.
GXAAS representatives appreciated the ARDB efforts to help improve the agricultural sector of Cambodia.
Partnering and cooperating with Cambodia’s ARDB, both sides will achieve the goals and plans set out in this memorandum, they said.
Cambodia exported 8.4 million tonnes of agricultural products last year, earning around $4.3 billion in revenue, said a report from the Ministry of Agriculture, Forestry and Fisheries.
The main products Cambodia exported included rice, bananas, mangoes, cassava, cashew nuts, corn, palm oil, pepper and tobacco.
Agriculture is one of the four pillars supporting Cambodia’s economy. The sector contributed 24.4 percent to the gross domestic product (GDP) of the country in 2021, added the ministry report.
China, Vietnam and Thailand are the major importers of Cambodia’s agricultural products. Cambodia exports milled rice, fresh banana, fresh mango, longan and natural fish products to China.
