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.
Cambodia’s International Trade Recorded at Almost US$32 Billion in First Eight Months
Phnom Penh, September 12, 2023 --The total trade volume between Cambodia and its partners around the world reached almost US$32 billion in the first eight months of 2023, down 14.5 percent compared to the same period last year.Figures from the General Department of Customs and Excise at the Ministry of Economy and Finance showed that Cambodia exported nearly US$15.7 billion worth of products to foreign markets, a year-on-year increase of 0.32 percent.At the same time, the Kingdom’s imports saw a decrease by 25.2 percent to almost US$16.3 billion.Cambodia's biggest markets during the said period were China, the U.S., Vietnam, Japan, Germany, Canada, etc.The main exported items included garments, footwear, travel goods, bicycles, rice, electrical equipment, rubber, furniture, and vegetables and fruits.The country imported mostly raw materials, construction materials, automobiles, pharmaceutical products, electronics and electrical equipment, fertilisers and pesticides.In 2022, Cambodia’s international trade volume was recorded at more than US$52.4 billion, up 9.2 percent from 2021.
World Rice Prices Surge 10 percent to 15-Month High
Phnom Penh, September 08, 2023 --International rice prices soared almost 10 percent from July to a 15-month high in August, the Food and Agriculture Organisation of the United Nations (FAO) said Friday.But the FAO said overall food prices fell by more than two percent in the same period.In a statement released in Rome, the UN agency said the FAO All Rice Price Index jumped 9.8 percent from July, “reflecting trade disruptions in the aftermath of a ban on Indica white rice exports by India, the world’s largest rice exporter.“Uncertainty about the ban’s duration and concerns over export restrictions caused supply-chain actors to hold on to stocks, re-negotiate contracts or stop making price offers, thereby limiting most trade to small volumes and previously concluded sales,” the statement said.The overall FAO Food Price, however, fell 2.1 percent from July and was 24 percent below its peak in March last year.UPGRADED FORECASTS INCLUDE CAMBODIAThe FAO meanwhile cut its forecast for rice output this season with downward revisions for Indonesia, Thailand and China offset by upgrades for other countries including Cambodia.The agency’s Cereal Supply and Demand Brief — also released Friday — cut the forecast for 2023-24 by 500,000 tonnes to 523.2 million tonnes — but still 1.1 percent above last season.“The revision primarily mirrors lower area estimates for Indonesia’s April-concluded main-crop harvest as well as reduced expectations for Thailand, where main-crop plantings have lagged behind year-earlier levels due to irregular rains and reduced water supplies for irrigation,” it said.“Excess rains and flooding in north-eastern provinces also reduced harvest expectations for China somewhat.“These revisions were partly offset by forecast upgrades for various other countries, in particular Cambodia, Colombia, the Islamic Republic of Iran, Nigeria and the United States of America, in all cases largely due to higher plantings than previously envisaged.”World rice utilisation for 2023-24 is now pegged at 520.9 million tonnes, up 800,000 tonnes from expectations in July and broadly stable year-on-year.“Tighter overall supply outlook led to downgraded forecasts for a host of Asian and African countries,” the FAO said.But the forecast was revised upwards for India. “Another comparatively large harvest on the backdrop of reduced exports could keep food intake above pre-pandemic levels for another season,” it said. At the same time, “volumes destined to ethanol production remain on an expansionary trend."World rice stocks have been revised downwards by 435,000 tonnes but are still expected to hit a record high of 198.1 million tonnes at the end of the 2034-24 marketing season — up 1.4 percent from a year earlier.“As in previous seasons, nearly three-quarters of this volume is expected to be held by China and India, with India, in particular, envisaged to be behind much of the world’s forecast stock expansion in 2023-24,” the agency said.For international trade in rice, the FAO lowered its July forecasts by 600,000 tonnes for 2023 and by 3.0 million tonnes for 2023.DURATION OF INDIAN RESTRICTIONS UNCLEAR“Revisions largely follow the recent stepping up of rice export restrictions by India,” the FAO said.Uncertainty over Indian restrictions reflects “leeway” for exceptions to be granted “on food security grounds and upon requests from governments, should they prove protracted.”Indian curbs combined with El Niño-related constraints in Asian exporters could keep expected recovery in world rice trade to fewer than 1.0 million tonnes to 53.3 million tonnes this year.
Cambodia’s Milled Rice Export Reaches Over 400,000 Tonnes In First Eight Months
Phnom Penh, September 11, 2023 --Cambodia exported a total of 401,699 tonnes of milled rice in the first eight months of this year, generating over US$278 million in revenue, a Cambodia Rice Federation’s report said on Friday.The January-August export accounted for 58 percent of the planned export amount of 700,000 tonnes this year, the same source added.Exported milled rice varieties included premium aromatic rice, fragrant rice, long grain white rice, parboiled rice, and organic rice, it pointed out.According to the report, Cambodian rice has been shipped to 56 countries and regions around the world during the said period.European Union countries remained the top buyer of Cambodia’s milled rice, purchasing 164,682 tonnes, followed by China and its autonomous regions and ASEAN members with 143,818 tonnes and 36,692 tonnes, respectively, it said.In 2022, Cambodia exported over 630,000 tonnes of milled rice to 59 countries, earning US$414 million, while the revenue from paddy rice export was around US$841 million.The Cambodia Rice Federation has set an ambitious goal to export at least a million tonnes of milled rice by 2025.
Cambodia, the Philippines Sign a Memorandum of Understanding on Partnership in Agriculture and MSME Development
Jakarta, September 05, 2023--Prime Minister of the Kingdom of Cambodia, Samdech Moha Borvor Thipadei Hun Manet, and President of the Philippines, H.E. Ferdinand Romualdez Marcos Jr., preside over the signing ceremony of a Memorandum of Understanding on Cambodia-Philippines Partnership in Agriculture and MSME Development, on the sidelines of the 43rd ASEAN Summit in Jakarta, Indonesia this evening.
Cambodia’s Exports to RCEP Countries Increase by 21 Percent in January-July Period
Phnom Penh, August 21, 2023 --Cambodia exported US$4.59 billion worth of goods to the Regional Comprehensive Economic Partnership (RCEP) countries in the January-July period of this year, up 21 percent from the same period last year, according to the data from the Ministry of Commerce.The figures were shared in a Book Launch on “Regional Comprehensive Economic Partnership Part 1 – Geo-Political, Geo-Economic and Legal Analysis,” held at CamTech University in Phnom Penh on Aug. 19.Speaking at the function, H.E Pan Sorasak, Minister of Commerce, said that RCEP plays a key role in the integration of ASEAN into the world economy, promoting sustainable economic growth, environment and resilience, and resisting the trend of anti-globalisation and protectionism.The RCEP free trade agreement entered into force on January 1, 2022. The regional trade pact comprises 15 Asia-Pacific countries including 10-member states of the Association of Southeast Asian Nations (ASEAN) — Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam — and their five trading partners, namely China, Japan, South Korea, Australia and New Zealand.Cambodia’s exports and imports to RCEP countries have increased thanks to the trade preferences under this mega-regional trade pact, said H.E. Penn Sovicheat, Spokesperson at the Ministry of Commerce, yesterday.“With almost zero trade tariffs, exporters have been able to take advantage of the trade deal, resulting in increased exports and imports from Cambodia,” he underlined.Being the world’s largest trade bloc, the RCEP trade deal has a combined GDP of US$26.2 trillion, representing around 30 percent of the global GDP, 28 percent of global trade, and 32.5 percent of global investment.
Cambodia, Indonesia Agree on Three Points on Rice Trade
Phnom Penh, August 17, 2023 --The Kingdom of Cambodia and the Republic of Indonesia on Aug. 16 discussed rice trade between both nations and agreed on three main points.The Cambodian side was led by H.E. Pan Sorasak, Minister of Commerce, while the Indonesian side was headed by H.E. Pahala Nugraha Mansury, Vice Minister of Foreign Affairs.According to the Cambodian Ministry of Commerce, Indonesia agreed to buy some 125,000 tonnes of Cambodian milled rice, of which 100,000 tonnes of white rice through the Bulog-Green Trade mechanism, and 25,000 tonnes of premium rice through ID Food-CRF mechanism.Both sides decided to revise the Memorandum of Understanding on Rice Trade between the two countries’ Ministries of Commerce for up to 250,000 tonnes of milled rice per year for a period of four years, it added.They also agreed to establish a mechanism to facilitate communication and coordination in rice trade, said the same source.
Ministry Bans Import of Carnivorous "Piranha Fish"
Phnom Penh, August 15, 2023 --The Ministry of Agriculture, Forestry, and Fisheries (MAFF) has banned the imports and sales of the fierce and carnivorous fish, "Piranha".According to a press release of MAFF issued on Aug. 13, there has recently been an advertisement on the imports and sales of wild and carnivorous fish on Tiktok and Facebook.The ministry's Fisheries Administration has also enforced the law among sellers of the fish and reached a deal with them to stop importing and to get rid of their current stock of the fish.The ministry appreciated the Fisheries Administration for taking timely action and appealed to the public and traders not to import piranhas and other carnivorous fish that could affect natural fish species, humans, animals, and the environment.The press release also encouraged people to report to the authorities if they knew about the import of piranhas and other feral fish as well as the raising of the fish, if any.
Cambodia’s Exports Earn US$13 Billion in January-July Period
Phnom Penh, August 11, 2023 --Cambodia exported US$13,525 million worth of goods to international markets in the January-July period of 2023, a year-on-year decrease of 2 percent, a report of the General Department of Customs and Excise showed on Friday. Cambodia’s top three export destinations were the U.S., Vietnam, and China, with shipments worth US$5,178 million, US$1,599 million, and US$814 million, respectively.Main products Cambodia exported included apparel, footwear, travel goods, bicycles, and a number of agricultural goods such as rice, rubber, cassava, bananas and mangoes.The report stated that the Kingdom exported garment, footwear and travel goods products worth in total US$6.36 billion during the said period, down 20.4 percent from US$7.99 billion in the same period last year.Garment, footwear and travel goods industry is the largest foreign exchange earner for Cambodia. The sector consists of roughly 1,300 factories and branches, employing about 840,000 workers, mostly female.Ministry of Commerce’s Secretary of State and Spokesperson H.E. Penn Sovicheat said that the Ukraine war caused a systematic shock to the global economic growth, which has limited consumer spending around the world. This has led to declining orders in Cambodia.“The country continues to receive purchase orders, which gives hope that exports will increase by the end of the year,” he said.At the same time, the Kingdom’s imports dropped by 25 percent to US$14,1745 million.
Four More Fishery Products Allowed for Direct Export to China
Phnom Penh, August 09, 2023 --Cambodia's four more fishery products including slipper lobster, eel, "elephant fish", and snail have been authorised for direct export to China, according to Chinese Embassy in Cambodia.The General Administration of Customs of the People’s Republic of China (GACC) has recently updated the list of countries or regions and the types of fishery products allowed to be exported to China, said the source, adding that Cambodian Tienit International Trading has passed the examination stage and completed the registration and report submission.Cambodian Tienit International Trading is the first company that completed its registration and report submission after Cambodia and China signed a protocol on phytosanitary requirements for fishery exports to China, pointed out the source.Cambodia’s agricultural products that can be directly shipped to China include rice, bananas, mangoes, longan, sweet corn, pepper, different kinds of fishery products and so on.
Cambodia’s Milled Rice Export Bags US$253 Million In January-July Period
Phnom Penh, August 07, 2023 --Cambodia exported a total of 362,708 tonnes of milled rice in the first seven months of this year, earning some US$253 million in revenue, a Cambodia Rice Federation’s report said on Monday.Exported milled rice varieties included premium aromatic rice, fragrant rice, long grain white rice, parboiled rice, and organic rice, it pointed out.Cambodian rice has been shipped to 52 countries and regions around the world during the said period.China remained the top buyer of Cambodia’s milled rice, purchasing 141,950 tonnes or 39 percent of the Kingdom’s total milled rice export, followed by European Union countries and ASEAN members with 141,394 tonnes and 30,117 tonnes, respectively, the report said.The January-July export accounted for 52 percent of the planned export amount of 700,000 tonnes this year.At the same time, Cambodia also had 49 million tonnes of border-traded paddy rice with neighbouring countries, generating a total revenue of about US$663 million.In 2022, Cambodia exported over 630,000 tonnes of milled rice to 59 countries, earning US$414 million, while the revenue from paddy rice export was around US$841 million.The Cambodia Rice Federation has set an ambitious goal to export at least a million tonnes of milled rice by 2025.
Cambodia-ASEAN Trade Valued at Over US$7 Billion in H1
Phnom Penh, July 25, 2023 --Cambodia’s trade with ASEAN member countries was valued at US$7.1 billion in the first six months of this year, accounting for 30 percent of the Kingdom’s total international trade.A report from the Ministry of Commerce showed that Cambodia-ASEAN trade volume decreased by 17 percent compared to the same period last year.From January to June, Cambodia's total exports to ASEAN countries amounted to US$2.4 billion, up 36 percent, while the total imports were more than US$4.6 billion, a 31 percent decrease year-on-year.Trade volume between Cambodia and Vietnam was recorded at US$3.3 billion, while with Thailand at US$1 billion and Singapore at nearly US$800 million.According to the Ministry of Commerce, Cambodia generally exports agricultural products, clothes, footwear, travel goods, electronics, and bicycles to ASEAN countries, whereas its imports include food, beverages, electrical and electronic equipment, construction materials, agricultural machinery and vehicles.In the first half of 2023, Cambodia's international trade volume totaled US$23.6 billion, down 13 percent from the same period the previous year.ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.
Cambodia Exports to RCEP countries Reach US$4 Billion in H1
Phnom Penh, July 18, 2023 --Cambodia exported US$4,071 million worth of goods to the Regional Comprehensive Economic Partnership (RCEP) countries in the first half of 2023, a year-on-year increase of 24 percent, a report from the Ministry of Commerce showed on Monday.Cambodia’s top three export destinations in the RCEP were Vietnam, Thailand, and Singapore, with shipments worth US$1,429 million, US$527 million, and US$415 million, respectively.The Kingdom’s imports from the RCEP countries decreased by 17 percent to US$10,740 million.Cambodia’s trade with RCEP countries have increased due to the trade preferences under the mega-regional trade pact, said H.E. Penn Sovicheat, Spokesperson of the Ministry of Commerce.“With almost zero trade tariffs, exporters have been able to take advantage of the trade deal, resulting in increased exports and imports from Cambodia,” he said.The RCEP free trade agreement entered into force on Jan. 1, 2022. The regional trade pact comprises 15 Asia-Pacific countries including the ten Member States of the Association of Southeast Asian Nations (ASEAN) — Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam — and their five trading partners, namely China, Japan, South Korea, Australia and New Zealand.