China, Cambodia sign '$1bn rubber & tire projects' agreement

Qingdao, China – Cambodian and Chinese officials have signed an MoU concerning plans to invest $1 billion (€910 million) in joint rubber & tire projects, Cambodia Development Council (CDC) has announced.

The mutual-cooperation agreement emerged from a visit by first deputy prime minister of Cambodia Sun Chanthol to China’s National Centre for Research on Rubber & Tire Engineering Technology (NERCRAT).

The parties aim to “jointly strengthen a number of priority projects,” CDC said of the agreement signed during a 5-8 Jan official trip to the centre and related Chinese facilities.

NERCRAT, added the state investment agency, has shown “a strong willingness to invest $1 billion in these priority projects" in Cambodia.

Headquartered in Qingdao, Shandong province, NERCRAT is an R&D centre for advanced technology in the rubber and tire industry.

CDC's statement did not include details about any specific project covered by the agreement.