A Change of Guard

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Friday 19 December 2014

Chinese, Cambodian Firms Sign Trade Deals

BY  | 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.

1 comment:

Anonymous said...

Begin of Drgunzet's comment.

Read the article again, 200,000 tons of dried cassava for 49 million US dollar. That is 40 cents per kilo of dried cassava. This is consistent with the report of 7 cents per raw (not dried) cassava.

When I was a boy, I would not mind to eat more cassava to fill my stomach. It's actually quite tasty in its own way, especially when you dip the boiled cassava with salt and ground peanuts.

Come on, 7 cents per kilo of cassava. Why can't the garment workers each get a few pounds of cassava a week as supplement to their diets. Something is very wrong here.

I say, someone is playing trick keeping the garment workers hungry so that they can jack up the food price. If the garment workers are well fed with inexpensive cassava, they won't buy the expensive food.

I remember reading an article, an Australian teenager spent 50 dollars to buy 100 loaf of breads and 40 kilos of banana to Cambodian rural village. That's only 25 cents per student for lunch, for half a loaf of bread and one banana for each student.

Someone is playing tricks and ripping off the garment workers and the union bosses are part of the scheme too.

I would guess it's CNRP who are playing tricks.

-Drgunzet-