Indonesia has agreed to buy 125,000 tonnes of rice from Cambodia, while the two sides also agreed to revise the Memorandum of Understanding (MoU) on rice trade up to 250,000 of rice per year for a period of 4 years.
The agreement was reached during a meeting between Commerce Minister Pan Sorasak and Indonesian Deputy Foreign Minister Pahala Nugraha Mansury on August 16.
Cambodia and Indonesia signed a memorandum of understanding to strengthen bilateral relations, discuss rice exports, and strengthen friendship. The meeting aimed to strengthen ties and promote mutual understanding.
Cambodian side seeks Indonesian assistance in promoting rice orders to Indonesia through G2G, private, and B2B trade mechanisms. Encourages Indonesian investors to invest in Cambodia’s rice production, establishes standard mills, and promotes business meetings between the two countries through face-to-face meetings with all stakeholders to achieve the export of rice and other agricultural products to Indonesia.
In response, the Indonesian side agreed to the Cambodian side’s statement and intends to cooperate on the rice trade, intending to import rice from Cambodia to Indonesia in order to maintain food security and domestic consumption.
At the same time, Indonesia also agreed to buy 125,000 tonnes of rice from Cambodia, including 100,000 tonnes of white rice using Bulog and Green Trade and another 25,000 tonnes of luxury rice between ID Food and members of the Cambodian Rice Federation (CRF).As for the price and other conditions, the two sides will continue to discuss in the near future.
In addition, the two sides agreed to re-establish a Memorandum of Understanding on Rice Trade between the Ministry of Commerce of Cambodia and the Ministry of Commerce of Indonesia for up to 250,000 tonnes of rice per year for a period of 4 years. The two sides agreed to establish mechanisms to facilitate communication and coordination in the rice trade. Dap-news