Cambodia and China's Hainan Province signed a cooperation memorandum.
ASEAN Headline News: On November 12th, 2021, the Cambodia-Oman Group, Hainan Natural Rubber Industry Group Co., Ltd., and the People's Government of Chengmao County signed the "Memorandum of Cooperation on Vigorously Developing the Cambodia-China Rubber Industry and Fully Promoting the Spot Rubber Trading" at the Cambodia Securities and Exchange Commission (SERC). Vice Chairperson of the Hainan Provincial Committee of the Communist Party of China and President of the Hainan Overseas Chinese Friendship Association, Yin Libo, and Chairman of the Cambodia Securities and Exchange Commission, Souksay Keo, attended and witnessed the signing. Prince Samnang, the advisor to the Prime Minister of Cambodia, and Duke Li KunTai, the Chairman of the Cambodia-Oman Group, as well as President Huang Junchen of the Cambodia-Oman Group, participated in the event.
Vice Chairperson of the Hainan Provincial Committee of the Communist Party of China and President of the Hainan Overseas Chinese Friendship Association, Yin Libo, said, "The Cambodia-Oman Group and Hainan Natural Rubber Industry Group jointly promoting cooperation in the Cambodia rubber industry is a practical action by both sides to seize the historical opportunity of the construction of the Hainan Free Trade Port. Both sides will work together to build a spot rubber trading platform, gradually explore futures trading, deepen regional economic cooperation, and promote the linkage of the first, second, and third industries in rubber planting, processing, trade, and financial services between Cambodia and Hainan, promoting the extension of the industrial chain and trade upgrading, and helping Cambodia build a new highland in the Southeast Asian rubber industry, and also injecting new impetus into the high-level opening of the Hainan Free Trade Port."