Cambodian PM’s Initiative on Trilateral Tourism Cooperation Supported
Phnom Penh, October 20, 2023 –The Cambodian Prime Minister’s initiative on trilateral tourism cooperation between Cambodia, Laos and Vietnam was supported by H.E. Pham Minh Chinh, Prime Minister of the Socialist Republic of Vietnam.In a meeting with Samdech Moha Borvor Thipadei Hun Manet, Prime Minister of the Kingdom of Cambodia, in Riyadh, Kingdom of Saudi Arabia this morning, on the sidelines of ASEAN-Gulf Cooperation Council (GCC) Summit, Vietnamese Minister H.E. Pham Minh Chinh voiced his support to the "Three Countries One Destination" as well as the Phnom Penh-Bavet Expressway connection.He also affirmed that Vietnam is waiting to welcome Samdech Thipadei’s official visit in the near future.In response, Samdech Thipadei Hun Manet expressed his pleasure to meet with H.E Pham Minh Chinh for the fourth time and recalled the important results of the recent meeting with the President of Vietnam in Beijing.
Cambodian, Chinese Top Leaders Agree to Expand Existing Cooperation
Phnom Penh, October 19, 2023 --Cambodia and China will strengthen and expand their existing cooperation, already at a high and comprehensive level, especially by promoting the implementation of diamond cooperation and the establishment of a “Fish and Rice Corridor” and an “Industrial and Technological Corridor.”This was the spirit of the meeting between Samdech Moha Borvor Thipadei Hun Manet, Prime Minister of the Kingdom of Cambodia, and H.E. Xi Jinping, President of the People’s Republic of China, held in Beijing, China this morning, on the sidelines of the 3rd Belt and Road Forum for International Cooperation.The two leaders also discussed the direction of further strengthening the ironclad friendship between both countries through enhancement of the cooperation in all fields, including tourism, energy, trade, investment and people-to-people exchanges.In this regard, H.E. Xi Jinping agreed with the initiative of Samdech Thipadei Hun Manet to designate 2024 as the year of people-to-people exchanges between Cambodia and China, as it is the key to boost tourism, trade and investment cooperation between the two countries to be more active and livelier.H.E. Xi Jinping also expressed his satisfaction with the frequent exchanges between both nations’ leaders, reflecting their close and friendly relations, and reaffirmed China’s stance to increase its cooperation with Cambodia and support the 7th-mandate Royal Government’s Pentagonal Strategy.For his part, Samdech Thipadei Hun Manet conveyed greetings from Samdech Techo Hun Sen, former Prime Minister of Cambodia, to the Chinese president, and congratulated China on the successful hosting of the 3rd Belt and Road Forum for International Cooperation on the occasion of the 10th anniversary of the Belt and Road Initiative, as well as of the 19th Asian Games in Hangzhou.
Cambodian entrepreneurs will use the Alibaba e-commerce platform to take full advantage of the international market
Cambodian Prime Minister, Samdech Thipadei Hun Manet is optimistic that Cambodian entrepreneurs will use the Alibaba e-commerce platform to take full advantage of the international market.The Cambodian Prime Minister expressed optimism at a meeting with Ms. WEN Jia, a shareholder of Alibaba and Chairman of the Public Affairs Section of Alibaba Group in Beijing on the evening of October 17, 2023.Samdech Thipadei Prime Minister welcomed Alibaba’s approaches to cooperate with Cambodian companies and enterprises as well as relevant ministries and institutions by bringing Cambodian products and services to global market. He was also optimistic that Cambodian entrepreneurs would use the Alibaba e-commerce platform to take full advantage of the international market.For her part, Ms. Wen Jia thanked Samdech Thipadei Hun Manet for taking the time to meet her and to witness the signing ceremony of the Memorandum of Understanding between the Ministry of Commerce of Cambodia and Alibaba of China to directly sell Cambodian products in the Chinese market as well as in ASEAN countries through the "Global e-Commerce Platform - eWTP Platform and to promote e-commerce.She added that the signing of this MOU has also received support from Samdech Techo Hun Sen in the past, and this achievement is in line with the digital economy in the first phase Pentagonal strategy of the Royal Government of Cambodia of the Seventh mandate.She also briefed Samdech Thipadei on the progress of Alibaba, which now has a total of approximately 1.3 billion customers worldwide, and the company also sells Cambodian products on its e-commerce platform like rice and fruit. The company also has an electronic platform for Chinese people to apply for Cambodian visas, and this service has received high interest and the number of applicants has increased significantly.
Cambodia Urges for Acceleration of Negotiations on Phnom Penh-Bavet and Bavet-Ho Chi Minh Expressways
Cambodia has requested Vietnam to speed up the negotiations on the Phnom Penh-Bavet and Bavet-Ho Chi Minh City expressway development project, which will facilitate trade and tourism exchanges between the two neighbouring countries.Samdech Moha Borvor Thipadei Hun Manet, Prime Minister of the Kingdom of Cambodia, made the request in a meeting with H.E. Vo Van Thuong, President of the Socialist Republic of Vietnam, in Beijing, China this morning, on the sidelines of the 3rd Belt and Road Forum for International Cooperation.Samdech Thipadei also noted with great pleasure the development of relations in all fields, with the increase in bilateral trade and the number of tourists between the two countries, as well as cooperation in the fields of defence and human resource training.For his part, H.E. Vo Van Thuong reaffirmed Vietnam’s commitment to maintaining close ties and cooperation with Cambodia for the common benefit of both nations and peoples.The Vietnamese president suggested the increase of exchange of high-level visits by expressing his intention to invite His Majesty the King, Samdech Techo Hun Sen, former Prime Minister of Cambodia, and Samdech Thipadei Hun Manet to visit Vietnam.Both leaders also spoke highly of the progress of Cambodia-Vietnam cooperation in all areas, especially defence, security, trade, investment, education, tourism, and people-to-people exchanges.
Cambodian PM Meets More Chinese Companies in Beijing
Phnom Penh, October 17, 2023 --Cambodian Prime Minister Samdech Moha Borvor Thipadei Hun Manet this morning held separate talks with leaders of four more Chinese companies, during his stay in Beijing, China for the 3rd Belt and Road Forum for International Cooperation on Oct. 17-18.In the meeting with Mr. Wang Bo, Chairman of China Machinery Engineering Corporation (CMEC), Samdech Thipadei congratulated CMEC on the success of its investment in Cambodia, and welcomed its additional investment projects contributing to the Kingdom's development.Mr. Wang Bo said in the next ten years, CMEC, a subsidiary of SINOMACH, which specialises in clean water, energy and infrastructure, will invest in a US$3-billion joint venture with two Cambodian companies in gas energy.While receiving Mr. Tse Ping, Senior Vice Chairman of Charoen Pokphand (CP) Group, which has been investing in Cambodia on livestock farms and real estate, Samdech Thipadei Hun Manet expressed his support for the company’s intention to expand its investment in Cambodia, especially in real estate, health and satellite, and encouraged the company to work with Cambodian relevant ministries and institutions.In his courtesy visit to Cambodian Prime Minister, Mr. Li Kuo, Chairman of China Metro Group informed him on the progress of the company's study on two lightweight railway development projects connecting Siem Reap-Angkor International Airport to Siem Reap provincial city and from Techo International Airport to Phnom Penh capital. He added that his company will also study various possibilities to help ease the traffic burden in Cambodia.For his part, Samdech Thipadei Hun Manet encouraged the company to continue its study on lightweight railway development projects in the capital of Phnom Penh and the provinces of Kandal and Siem Reap, and voiced his support for the traffic-related projects that China Metro Group has been studying in Cambodia.During the meeting with Mr. Wang Jianping, Chairman of China Railway Construction Corporation (CRCC), Samdech Thipadei Hun Manet emphasised two goals for railway development in Cambodia – the feasibility study on the repair and modernisation of the existing railway lines, and the study on railway connection from Phnom Penh to Bavet and from Poipet to Siem Reap, as well as to the border with Vietnam via Stung Treng and Mondulkiri provinces.Mr. Wang Jianping told Samdech Thipadei of the progress of his company in Cambodia. To date, he added, CRCC has a total of 53 investment projects in the Kingdom with a capital of approximately US$5.3 billion. The company also plans to invest in three more major projects, including data management centre in support of e-government, Phnom Penh-Siem Reap and Phnom Penh-Poipet railway projects, and clean water supply project in provinces along the Mekong River.
Cambodia, China sign agreement on eight more documents to expand trade and investment cooperation
China: Eight important documents related to expanding trade and investment cooperation have been signed by the Royal Government of Cambodia and the Government of China.The signing ceremony was presided over by His Excellency Hun Manet, Prime Minister of Cambodia, and Li Chheang, Prime Minister of the People's Republic of China, after a bilateral meeting on the evening of October 17, 2023.The documents that signed this agreement include:1: Memorandum of Understanding on Joint Promotion of the Third Key Project for Cambodia-China Production Capacity Cooperation and Investment2: Memorandum of Understanding on the Establishment of a Working Mechanism for the Implementation of the Bilateral Cooperation Plan for the Joint Construction of the Silk Road Economic Belt and the 21st Century Maritime Silk Road3: Memorandum of Understanding on Investment Cooperation in Green and Low Carbon Development4: Concessional Loan Agreement for Financing of Rural Power Transmission Project Phase 85: Exchange of Letters for Feasibility Study for Preah Vihear Temple Rehabilitation Project6: Minutes of the Meeting on Feasibility Study on the Location of Rural Road Project 3 in the Kingdom of Cambodia within the framework of Grant Funding from the Government of the People's Republic of China7: Memorandum of Understanding on the Establishment of the Cambodia-China Railway Cooperation Mechanism8. Memorandum of Understanding on Cooperation in the Construction of the China-Cambodia Industrial Park between the Ministry of Commerce of the Kingdom of Cambodia and the Guangxi Zhuang Autonomous Region Authority of the People's Republic of China.
Cambodian PM Holds Talks with Chairman of China Railway Construction Corporation
Beijing, October 17, 2023—Cambodia’s Prime Minister Samdech Moha Borvor Thipadei Hun Manet (L, Pic. 1) greets Mr. Wang Jianping, Chairman of China Railway Construction Corporation, prior to their meeting in Beijing, China this morning, on the sidelines of the 3rd Belt and Road Forum for International Cooperation.
Cambodia, Türkiye Aim For Two-Way Trade Goal Of US$1 Billion
Phnom Penh, October 13, 2023 --Cambodia and Türkiye aim for two-way trade goal of US$1 billion.This was the spirit of the recent talks here between H.E. SOK Chenda Sophea, Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation, and H.E. Ms. Ülkü Kocaefe, Ambassador of the Republic of Türkiye.According to a press release of the Ministry of Foreign Affairs and International Cooperation AKP received this morning, the two sides noted with satisfaction the cordial relations between the two countries as they prepare to celebrate the 65th anniversary of diplomatic relations next year.They expressed their readiness to jointly launch activities to commemorate this significant milestone between Cambodia and Turkiye. They also discussed ways to further strengthen the relationship and prioritise potential areas of cooperation in line with the Royal Government of Cambodia's Pentagonal Strategy - Phase 1.On economic and trade ties, the two sides expressed deep appreciation over their close cooperation. They expressed their commitment to explore possibilities to increase commercial activities to achieve a two-way trade goal of US$1 billion.H E. Ms. Kocaefe noted that Türkiye had established an office of the commercial counsellor in Cambodia to better coordinate efforts to boost bilateral trade and investment.The Deputy Prime Minister expressed his sincere gratitude to the Turkish government for its development assistance to Cambodia. The Ambassador reaffirmed her government's commitment to assist Cambodia, especially through the Turkish Cooperation and Coordination Agency (TIKA).The two sides exchanged views on cooperation in the fields of culture, tourism and education, including scholarships and training for Cambodian diplomats and students. They also discussed cooperation under multilateral frameworks.
UN projects global economy to slow amid low trade and rising inflation
Global economic growth is projected to slow down from three percent in 2022 to 2.4 percent in 2023, according to a UN report that partly attributes this to slow movement of goods and services. The UN Conference on Trade and Development (UNCTAD) in its Trade and Development Report 2023, also says workers are unlikely to get a pay raise this year as wages and salaries have failed to keep up with inflation. The report released on October 4 calls for a change in policy direction and accompanying institutional reforms promised during the COVID-19 crisis to avert a lost decade.“There are five messages that we want to emphasize from the report. The first message is that the global economy is slowing down, despite the good news of the unexpected soft landing of the US economy this year. But the prospects of accelerating growth in the coming years are very slim,” said Rebeca Grynspan, UNCTAD secretary-general during a virtual press conference.“The second message is that debt is a problem and that a lot of the developing countries are in a debt and development crisis. And debt has to be part of the discussion at the international level to be able to find the right solutions for restructuring debt in many developing countries, including middle-income countries.”Rising interest rates, weakening currencies, and sluggish export growth have combined to squeeze the fiscal space for essential needs. Investment is also weak in the face of falling credit, Grynspan said, and there are worries about the market concentration and lack of competition in the financialization of trade in important markets like energy, food, pharmaceuticals, and digital."The question of where the new sources of growth will come from has to be addressed,” she said. Unattainable SDGsThe report warns that the prospect of meeting the sustainable development goals by 2030 is fading as a combination of rising interest rates, weakening currencies and slowing export growth squeezes the fiscal space needed for governments to fight climate change and provide for their people. As part of the recommendations to fix the global ailing economy, Grynspan proposed that interest rates should not be the only instrument being used to turnaround the economy. The report calls for a change in policy direction – including by leading central banks– urging global financial reforms; more pragmatic policies to tackle inflation, inequality and sovereign debt distress; stronger oversight of key markets and reform of the international financial system. The UNCTAD boss called for the revision of the inflation target of two percent.“That could mean collateral damage if not revised, especially for the developing countries, but also for the long-term financial stability in the developed world,” she warned. It would be the instruments to face the liquidity problems, the investment scale that is needed from the multilateral development banks, and, as I said before, a permanent mechanism to deal with the debt problem in the developing countries,” she explained.
UN projects global economy to slow amid low trade and rising inflation
Global economic growth is projected to slow down from three percent in 2022 to 2.4 percent in 2023, according to a UN report that partly attributes this to slow movement of goods and services. The UN Conference on Trade and Development (UNCTAD) in its Trade and Development Report 2023, also says workers are unlikely to get a pay raise this year as wages and salaries have failed to keep up with inflation. The report released on October 4 calls for a change in policy direction and accompanying institutional reforms promised during the COVID-19 crisis to avert a lost decade.“There are five messages that we want to emphasize from the report. The first message is that the global economy is slowing down, despite the good news of the unexpected soft landing of the US economy this year. But the prospects of accelerating growth in the coming years are very slim,” said Rebeca Grynspan, UNCTAD secretary-general during a virtual press conference.“The second message is that debt is a problem and that a lot of the developing countries are in a debt and development crisis. And debt has to be part of the discussion at the international level to be able to find the right solutions for restructuring debt in many developing countries, including middle-income countries.”Rising interest rates, weakening currencies, and sluggish export growth have combined to squeeze the fiscal space for essential needs. Investment is also weak in the face of falling credit, Grynspan said, and there are worries about the market concentration and lack of competition in the financialization of trade in important markets like energy, food, pharmaceuticals, and digital."The question of where the new sources of growth will come from has to be addressed,” she said. Unattainable SDGsThe report warns that the prospect of meeting the sustainable development goals by 2030 is fading as a combination of rising interest rates, weakening currencies and slowing export growth squeezes the fiscal space needed for governments to fight climate change and provide for their people. As part of the recommendations to fix the global ailing economy, Grynspan proposed that interest rates should not be the only instrument being used to turnaround the economy. The report calls for a change in policy direction – including by leading central banks– urging global financial reforms; more pragmatic policies to tackle inflation, inequality and sovereign debt distress; stronger oversight of key markets and reform of the international financial system. The UNCTAD boss called for the revision of the inflation target of two percent.“That could mean collateral damage if not revised, especially for the developing countries, but also for the long-term financial stability in the developed world,” she warned. It would be the instruments to face the liquidity problems, the investment scale that is needed from the multilateral development banks, and, as I said before, a permanent mechanism to deal with the debt problem in the developing countries,” she explained.
Global economy slows on low trade, inflation
According to a UN report, global economic growth will decelerate from 3% in 2022 to 2.4 percent in 2023, owing in part to the slow flow of commodities and services.According to the UN Conference on Trade and Development (UNCTAD), workers are unlikely to receive a pay boost this year because wages and salaries have failed to keep up with inflation.The report, which was released on October 4, asks for a shift in policy direction, as well as the institutional reforms promised during the Covid-19 crisis, in order to avoid a wasted decade.Investment is also weak in the face of falling credit, and there are worries about the market concentration and lack of competition in financialization of trade in important markets like energy, food, pharmaceuticals and digital. The question of where the new sources of growth will come from has to be addressed.SDGs that are unattainable based to the analysis, the potential of attaining the SDGs by 2030 is receding as a result of rising interest rates, weakened currencies, and slower growth in exports, reduces the fiscal space available to governments to combat climate change and provide for their citizens.The research urges a shift in policy direction, notably by leading central banks, by advocating for global financial reforms, more pragmatic measures to combat inflation, inequality, and sovereign debt distress, tighter control of important markets, and reform of the international financial system.The UNCTAD chief advocated for a modification of the two percent inflation target. "That could mean collateral damage if not revised, especially for the developing countries, but also for the long-term financial stability in the developed world," she said.It would be the instruments to address liquidity issues, the investment scale required from multilateral development banks, and, as previously stated, a permanent framework to address the debt problem in poor countries," she explained.
Cambodia and Pakistan to Build More Cooperation
Phnom Penh, October 04, 2023 --Cambodia and Pakistan will further enhance their cooperation in different fields, especially on trade, agriculture, diplomacy, and national defence.The commitment was highlighted when Samdech Moha Borvor Thipadei Hun Manet, Prime Minister of the Kingdom of Cambodia, received H.E. Zaheeruddin Babar Thaheem, Ambassador of Pakistan to Cambodia, here at the Peace Palace this morning.In the courtesy meeting, H.E. Zaheeruddin Babar Thaheem expressed his hope that the Cambodian-Pakistani cooperation will be further expanded, especially on trade and agriculture.The Pakistani ambassador took the opportunity to cordially invite Samdech Thipadei Hun Manet to pay an official visit to the Islamic Republic of Pakistan and requested the creation of the Royal Embassy of Cambodia there to facilitate various mechanisms, especially to serve trade and people-to-people connectivity.In response, Samdech Thipadei Hun Manet agreed with the proposal to establish an embassy in the Islamic Republic of Pakistan, in line with what Samdech Techo Hun Sen, former Prime Minister of Cambodia, had previously agreed to.In the meeting, Samdech Thipadei Hun Manet and H.E. Zaheeruddin Babar Thaheem also exchanged views on other fields of cooperation, including the national defence sector.
Fintech Development Policy Gives Impetus to Cambodia’s Digital Economy and Society Development
Phnom Penh, October 04, 2023 --The Cambodia Financial Technology Development Policy 2023-2028 will give an impetus to the development of Cambodia’s digital economy and society, said H.E. Dr. Aun Pornmoniroth, Deputy Prime Minister and Minister of Economy and Finance.He made the remarks in a dissemination workshop on “Cambodia Financial Technology Development Policy 2023-2028” at Hyatt Regency Phnom Penh Hotel on Oct. 4.“I firmly believe that the implementation of the policy with high efficiency will help Cambodia to benefit in advance from digitalisation in the financial sector and to provide opportunities to all parties to contribute impetus to the development of Cambodia’s digital economy and society,” H.E. Dr. Aun Pornmoniroth said.The Digital Economy and Business Committee (DEBC) organised the workshop with an aim to widely disseminate the policy in the spirit of promoting the implementation of the policy and continuing to promote the development of FinTech in Cambodia.The workshop was attended by high-ranking officials who are representatives from relevant ministries, public institutions and regulators, embassies, banking and financial institutions, educational institutions, insurance companies, local and international private companies, and other relevant associations.In the process of policy formulation, it pointed out, the DEBC has previously organised five workshops to gather valuable input to ensure the conciseness, flexibility, and inclusiveness of the Policy.The five workshops include (1) The National Consultation Workshop on Policy and Direction of Cambodia's FinTech, (2) The Role of Insurance Sector and FinTech in Digital Economy in Cambodia, (3) The Role of Banking Sector and FinTech in Digital Economy in Cambodia, (4) The FinTech Stage of Cambodia Tech Expo 2022, and (5) The Roles of Decentralised Finance and Data Protection Framework in FinTech Development in Cambodia.
Director General of Customs introduced 4 points on Strengthening the Effective Management of Natural Stone Exports
Phnom Penh: Dr. Kun Nhim, Minister Delegate to the Prime Minister and Director General of Customs and Excise of Cambodia, on October 2, 2023, issued a letter to the Director of the Branch Department and the Office of Customs and Excise on strengthening the efficiency of natural stone export management.In the letter, Dr. Kun Nhem stated that in order to ensure the effectiveness of management as well as to facilitate the export of natural stone products, the General Department of Customs and Excise would like to introduce four major points: First, the classification of natural stone. Export, 2. Issuance of permit, 3. Verification of customs duties and 4. Inspection at the border.
ASEAN-Cambodian Business Summit 2023 Kicks Off
Phnom Penh, September 28, 2023 --The two-day ASEAN-Cambodian Business Summit 2023, where business and political leaders come together to explore the opportunities and challenges of further economic integration, kicked off at Sofitel Phnom Penh Phokeethra on Sept. 28.In her opening remarks under the session “Connectivity & Growth in the Mekong Region within ASEAN” this afternoon, H.E. Minister, highlighted the importance of the Mekong region, especially in the field of trade, investment, and the efforts of countries in the region to promote physical and people-to-people connectivity in order to accelerate and support sustainable and environmental economic growth.She also underscored Cambodia’s effort to promote connectivity through establishing infrastructure, digitalisation development, and effort with ASEAN member states to implement the Master Plan on ASEAN Connectivity 2025.In addition, H.E. Mrs. Cham Nimul has mentioned that the Royal Government of Cambodia paid high attention to promoting the participation of the private sector in economic activities in order to take advantage of free trade agreements and also highlighted the mechanism of establishing Public-Private Partnerships, especially in the arrangement of Government-Private Sector Forums during the end of 2023.Last but not least, she encouraged businessmen, investors, and members of the EU-ASEAN Business Council to consider investing in Cambodia’s potential sectors, including agro-processing industries, tourism services, and increasing the import of Cambodia’s potential goods such as textile, footwear, traveling goods, and manufacturing products, etc.Organised by EuroCham and its partners, the ASEAN-Cambodian Business Summit 2023 brings a good mix of practitioners and experts to provide many great knowledge and practical insight and provide an excellent opportunity to exchange and explore on trade and investment potential of Cambodia and the region.
Agriculture Minister Discusses Cooperation with Russia
Phnom Penh, September 27, 2023 --H.E. Dith Tina, Minister of Agriculture, Forestry, and Fisheries, received H.E. Anatoly Borovik, Ambassador of the Russian Federation to Cambodia, to discuss agriculture trade and the memorial service on Sept. 26 at the ministry.On trade, the minister welcomed the import of agricultural fertilisers from Russia and the export of Cambodian agricultural products to the Russian market.They also discuss a joint memorial service for eight Russian agricultural experts who lost their lives in Kampong Cham province on Aug. 23, 1983.A memorial for the experts will also be constructed, and its location is yet to be decided.
Cambodia-Thailand Bilateral Trade Tops US$2.58 Billion in First Eight Months
Phnom Penh, September 28, 2023 --The bilateral trade between Cambodia and Thailand was amounted to US$2,585 million in the January-August period of this year, a 19.9 percent decrease over that of last year, a report of the General Department of Customs and Excise showed.Cambodia exported US$646 million worth of goods to Thailand, inching up 5.4 percent over the same period last year, while its imports from Thailand decreased by 25.8 percent to US$1,938 million, the report pointed out.Cambodia’s main exports to Thailand include textiles, agricultural products, gems, raw materials and semi-finished products.Imports from Thailand are mostly fish, meat, vegetables, automobiles, organic fertilisers, foodstuffs, and construction materials.Thai Prime Minister H.E. Srettha Thavisin is paying his first official visit to Cambodia on Sept. 28. According to the Ministry of Foreign Affairs and International Cooperation, during his day-long visit to Phnom Penh, H.E. Srettha Thavisin and Samdech Moha Borvor Thipadei Hun Manet, Prime Minister of the Kingdom of Cambodia will hold bilateral talks aimed at charting a course of action to further deepen and expand the extensive spectrum of mutually beneficial ties under bilateral and multilateral frameworks.The two leaders will take part in a handover ceremony for the Transit and Reception Centre for Victims of Trafficking and Other Vulnerable Groups in Poipet City, part of a bilateral cooperation initiative.
UK Prime Minister’s Trade Envoy Visits Cambodia to Boost Trade Opportunities
Phnom Penh, September 25, 2023 --The UK Prime Minister’s Trade Envoy H.E Heather Wheeler MP is visiting Cambodia this week from Sept. 24 to 26 aiming to strengthen the bilateral trade and investment relationship with Cambodia, according to a press release from the British Embassy in Cambodia issued on Monday.During her stay in Cambodia, she will meet with Cambodian ministers and British and Cambodian businesses to explore opportunities to strengthen the commercial relationship and support Cambodia’s sustainable development and transition from Least Developed Countries (LDC) status, stated the press release.The UK sees huge potential to deploy green investment and encourage Cambodian exports, under the UK’s “Developing Country Trading Scheme”, to increase Cambodia’s competitiveness and increase incomes for Cambodians, the source pointed out.“It is fantastic to return to my new role as Prime Minister’s Trade Envoy, to strengthen the bilateral trade and investment relationship with Cambodia,” UK Prime Minister’s Trade Envoy MP Heather Wheeler spoke ahead of the visit.This year is an exciting year for UK-Cambodia trade and investment as the two countries celebrate the 70 years of diplomatic relations, she added.“We have launched our inaugural Joint Trade and Investment Forum, prioritised Cambodia as part of our international British Investment Partnerships work, and encouraged even more fantastic Cambodian producers to use the Developing Countries Trading Scheme to export to the UK,” she said.She will join the Deputy Prime Minister, Minister of Education, Youth and Sports in presiding over the launching ceremony of the first ever UK university branch campus in Cambodia, a truly historic moment and a sign of the UK’s ongoing commitment to Cambodia, underlined the statement.“We will continue to work closely with our Cambodian partners to promote trade opportunities between our two countries,” it said.UK-Cambodia trade in 2022 had recovered to its pre-pandemic levels of over US$1 billion. Cambodian exports to the UK are predominantly made up of garments, footwear and bicycles.Cambodia qualifies for Comprehensive Preferences under the UK’s recently launched Developing Countries Trading Scheme – this gives Cambodia duty-free, quota-free access to the UK market for 99 percent of product lines.
Cambodia, China Sign Protocol of Phytosanitary Requirements for Fresh Coconut Export
Phnom Penh, September 20, 2023 --Cambodia and China have recently signed a protocol of phytosanitary requirements that will make way for the export of fresh coconuts from Cambodia to China.The protocol was inked on Sept. 15 between the Ministry of Agriculture, Forestry and Fisheries (MAFF) and the General Administration of Customs of China.H.E. Ms. Im Rachana, MAFF’s Undersecretary of State and Spokesperson, on Sept. 20 said that the ministry’s General Department of Agriculture (GDA) has started to inform the owners of coconut plantations, aromatic coconut farming communities and the owners of fresh coconuts processing and packaging factories who wish to produce and process fresh coconuts for the Chinese market to apply for registration of their plantations and factories.“The ministry will work with farmers to ensure that they grow coconuts in accordance with the sanitary and phytosanitary standards set by the General Administration of Customs of China,” she added.List of fresh coconut plantations and processing and packaging plants will be sent to the Chinese side in early December 2023 for review and evaluation before reaching the formal export, the spokesperson underlined.Cambodia currently has 17,000 hectares of coconut plantations, of which 14,000 hectares are ready for harvest, yielding a total of 248,000 tonnes in 2022.
Azerbaijan to Boost Trade Collaboration with Cambodia
Phnom Penh, September 15, 2023 --Azerbaijan was committed to strengthening and expanding relations and cooperation with Cambodia, especially in trade and politics.The commitment was made by H.E. Shovgi Kamal Oglu Mehdizada, newly appointed Ambassador of Azerbaijan to Cambodia in a courtesy meeting with Cambodian Acting Head of State, Samdech Vibol Sena Pheakdei Say Chhum here in Phnom Penh on Sept. 15.H.E. Shovgi Kamal Oglu Mehdizada affirmed to do his utmost to maintain the long-lasting and historical relations and cooperation between both nations during his diplomatic mission in Cambodia.Samdech Say Chhum spoke highly of the good cooperation in all sectors between the two countries.he Acting Head of State added that the Cambodian government and institutions are ready to closely cooperate with H.E. Ambassador to promote the friendship and cooperation for the mutual interest of both countries and peoples.