Sinofert and Arab Potash Company Renew Long-Term Agreement

Date:2016-12-30 Source:Sinochem Group

On December 18th, 2016, Mr. Feng Mingwei, Managing Director of Sinochem Fertilizer Macao Commercial Offshore Limited, a subsidiary under Sinochem Group, and Mr. Jamal Ahmed Al-Sarayrah, Chairman of Arab Potash Company (APC) signed a MOU for three years from 2017 to 2019 at the prime minister's official residence, Amman, capital of Jordan. According to the Agreement, Sinofert will continue its role as APC’s sole proxy in its potash sale in China. The total volume will amount to approximately 2,600,000 tons while the price will be subject to China’s joint negotiation price that year.

This MOU was an extension of and development to the MOU signed at the witness of Chinese President Xi Jinping and Jordanian King Abdullah II ibn Al-Hussein on September 18th, 2013. The two sides noted that Sinochem Group and Jordan APC were long- term all-weather strategic partners with solid cooperative basis. The two sides would make consistent efforts to lift the depth and width of cooperation, develop together, progress together for a win-win situation. 

Jordan Prime Minister Hani Mulki and Mr. Pan Weifang, Chinese ambassador to Jordan were present at the signing ceremony. They particularly received APC team members, extended congratulatory remarks to the two sides for their renewing of another three-year MOU. Encouragement was expressed to the two sides to strengthen strategic cooperation, continue to exert efforts for the development of trade of the two countries, China’s food security, and China’s agriculture.