The Cambodia Korea Free Trade Agreement (CK FTA) which will be entering into force on the start of next month is expected to boost exports between the two countries and contribute to economic recovery. Prime Minister Hun Sen while speaking at the 10th anniversary of the Regional Comprehensive Economic Partnership (RCEP) on November 2 said…
Sok Sithika / Khmer Times The $1.5 billion port is expected to be a major artery for Cambodia’s maritime transport. MPWT A large international deep-sea port in Kampot province has officially opened its construction site. The $1.5 billion Kampot port is expected to be a major artery for Cambodia’s maritime transport. The ground-breaking ceremony for…
Vietnam has asked the government of Cambodia to expand a shipping navigation route between its Phu Quoc island, Sihanoukville and Thailand as part of a coastal shipping lane cooperation deal previously agreed by the two countries and Cambodia. The request was made at a meeting between Phan Chi Thanh, the Vietnamese ambassador to Thailand, and…
A bill authorising the ratification of the Cambodia – Korea Free Trade Agreement (CK-FTA) has been promulgated into law, moving the two Asian nations into the final stretch for the enactment of the deal, which is expected to unlock billions in bilateral trade and investment. The bill sailed through the National Assembly on December 29,…
Aeon, a Japanese retailer, plans to build a 30,000-square-meter logistics center in Sihanoukville, Cambodia in 2023 to provide import storage, customs clearance, and cross-border online retail support. Cambodia plans to develop a part of the special economic zone as a free trade port with the support of the Government of Japan and the Japan International…
Long Dimanche, Deputy Governor of Preah Sihanouk Province, and Tu Xiaogang Du Xiaogang, Party Secretary of the Chinese Communist Party Committee in Wuxi, on December 17, chaired an online meeting on promoting regional development. Sihanoukville Special Economic Zone 2.0 (SSEZ), which is up 40% in value. Xiaogang, said that the video meeting was to determine…
Phnom Penh and Beijing have agreed to bring the major bilateral Cambodia-China Free Trade Agreement (CC-FTA) into force in January, and renewed a pledge to boost trade to $10 billion per annum, according to Prime Minister Hun Sen. The prime minister made the remark on November 15 at a virtual meeting with his Chinese counterpart…
South Korean ambassador to Cambodia Park Heung-kyeong is highly optimistic that the new Cambodian investment law and free trade agreement (FTA) signed between the two countries would be important factors in enhancing bilateral trade and encouraging more direct investment flows from South Korea to the Kingdom. The ambassador made the remark on November 16 at…
The Cambodia government is working to transform Sihanoukville province, also known as Preah Sihanouk province, into a multi-purpose special economic zone (SEZ) after the province received the designation earlier this year. On June 9, 2021, Cambodia Prime Minister Hun Sen signed a sub-decree that will make Sihanoukville province a multi-purpose SEZ. The designation stands to…
Cambodia is on course to be the next Asian Tiger, and that is good news for America. Ford Motors recently announced that it is building a $21 million assembly plant in the Pursat province of Cambodia. And the recent virtual business summit showcased the ease of doing business in Cambodia experienced by U.S. companies in…
The Cambodia-South Korea Free Trade Agreement (CK FTA) is set to be signed on October 26, ushering in a new chapter that will open up fresh avenues in trade and investment between the two Asian nations, according to a senior Ministry of Commerce official. Cambodia Ministry undersecretary of state Pen Sovicheat told The Post on…
Minister of Commerce Pan Sorasak plans to lead a delegation to South Korea next month to have signed the Cambodia-Korea Free Trade Agreement (FTA), if the Covid-19 situation permits, according to a senior official. Many observers share the opinion that the East Asian economy will outstrip most rivals as buyers of Cambodian merchandise once the…
The value of imports and exports passing through the Sihanoukville Special Economic Zone (SEZ) reached $1.373 billion in the first eight months of 2021, an increase of 44.37 per cent year-on-year, the operator reported. Using an earlier report as reference, this means the imports and exports that passed through the industrial zone last month alone…
PHNOM PENH, Sept. 12 (Xinhua) — Visiting China State Councilor and Foreign Minister Wang Yi and Cambodia Deputy Prime Minister and Foreign Minister Prak Sokhonn agreed here on Sunday to further enhance bilateral cooperation between their two countries. During a meeting with Prak Sokhonn, Wang said that he and Sokhonn have met face to face…
Cambodia is reportedly keen to set up a new joint team with the Eurasian Economic Union (EAEU) to push a more detailed examination of the possibility of formally launching free trade agreement (FTA) talks with the bloc soon, and add impetus to underwhelming bilateral trade ties. The initiative had been raised at the 3rd Joint…
Cambodia and China are committed to increasing bilateral trade to $10 billion by 2023, from $8 billion last year, according to a senior official at the Cambodian Ministry of Commerce. The pledge was made at the Second Cambodia-China Think Tank High-Level Forum, held on July 28 in Chinese capital Beijing in a mixed online and…
The Cambodian Ministry of Commerce expects the ratification of the bilateral Cambodia China Free Trade Agreement (FTA) by the National Assembly “soon”. Cambodia hopes that the trade deal will widen the Kingdom’s export market, especially agricultural products, ministry spokesman Seang Thay told The Post on July 5. The CCFTA was signed by Cambodian Minister of…
Vietnam farm exports to China posted impressive growth between January and May, with shipments of some produce even matching or surpassing the corresponding figures for the entire 2020, data of the Plant Protection Department under the Ministry of Agriculture and Rural Development showed. During the period, Vietnam shipped over 468,000 tonnes of mango to China,…
Although the economic crisis unleashed by Covid-19 has driven large international trade declines, Cambodia-US trade seems to have largely eluded the clutches of the pandemic wobbles, worth $2.6549 billion in January-April, an increase of 24.48 per cent over the $2.1327 booked in the same period of 2020. Of that, the Kingdom exported $2.5192 billion, up…
China has arranged a deal for Cambodia to export about 500,000 tons of fresh mango to the country, according to reports. After more than three years of negotiation, the Cambodian Ministry of Agriculture, Forestry, and Fisheries and the General Administration of Customs of China officially accepted 37 companies with mango farm and five companies with…
The private sector experienced a wave of renewed optimism that mango would become a valuable agro-industrial export and prove particularly attractive to investors, after Cambodia on May 7 shipped around 100 tonnes of fresh mango to China, in the Kingdom’s inaugural direct export of the fruit to the East Asian market. The official export came…
China has allowed Cambodia exports of fresh mangoes directly to its market after Chinese Customs on April 26 certified 37 mango plantations and five packaging factories as compliant with phytosanitary and packaging standards. The approval came after experts from the General Administration of Customs of the People’s Republic of China (GACC) in Guangxi province on…
An evaluation process undertaken to determine whether fresh mango exports can meet China’s rigorous health standards is now complete, according to Agriculture Minister Veng Sakhon. The process, which was conducted at three mango farms and four water heat treatment (WHT) and vapour heat treatment (VHT) plants in Cambodia, was overseen by both customs officials from…
Prospects of a formal initiation of free trade agreement (FTA) talks with the Eurasian Economic Union (EAEU) and Camobida have improved as early talks witness an increasingly positive sentiment, according to Cambodia’s Ministry of Commerce spokesman Seang Thay. Comprising five member states – Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia – the EAEU is home to…
With five free trade agreements (FTAs) on the docket this year, Cambodia is bolstering its logistics network in anticipation of the deals. To that end, last month the Prime Minister approved the immediate upgrade of the Stung Bot, Bavet and Poipet checkpoints. Sopheavatey Sorn, director of logistics at the Ministry of Public Works and Transport,…
Cambodia and South Korea on February 3 concluded talks for a bilateral free trade agreement (FTA), which Minister of Commerce Pan Sorasak and his Korean counterpart Yoo Myung-hee plan to sign in mid-2021, setting zero tariffs for a broad range of goods, according to a joint press statement. The two ministers signed the agreed minutes…
The part in relation to Cambodia under the ASEAN-Hong Kong free trade agreement (FTA) and Investment Agreement (IA) is set to take effect on February 12, according to Hong Kong’s Trade and Industry Department. The Kingdom will be last country in which the two agreements enter into the force, following Indonesia on July 4 and…
According to an announcement from China’s General Administration of Customs, China granted import permission for 10 new fruit items in 2020, representing a slight decrease from the previous year. The approved fruit items include Argentinian and Chilean citrus; Brazilian melons; Cambodian mangos; Dominican avocados; Indonesian dragon fruit; U.S. avocados, blueberries and nectarines; and Zambian blueberries….
From January to Dec. 15, 2020, Cambodia has exported some 945,274 tonnes of fresh mangoes to foreign markets, with an estimated total value of some $473,207,700. The figures were shared in a preliminary report on the progress of major agro-industrial crop production in 2020, by Veng Sakhon, Minister of Agriculture, Forestry and Fisheries. The report…
Cambodian Keo Romiet mangoes remain on target to be directly exported to the Chinese market from early next year after the economic powerhouse penned an agreement in June that set up a 500,000 tonne quota for the Kingdom’s widely-available fruit. Minister of Agriculture, Forestry and Fisheries Veng Sakhon told The Post on December 22 that…
An agreement on concluding negotiations of the Vietnam-UK Free Trade Agreement (UKVFTA) will be signed on December 11, according to the Ministry of Industry and Trade (MoIT). The deal is significant for both countries in the current context as it meets the demands of the two sides. According to the MoIT, the FTA between the…
Bilateral trade between the Kingdom and the US amounted to $5.8 billion in the first 10 months of this year, up $972.8 million or 15.9 per cent over the $5 billion registered in the same period last year, data from the US Census Bureau show. This comes amid Covid-19’s continued assault on the world’s largest…
Iran has voiced an interest in buying Cambodian agricultural products for domestic consumption and re-export, Cambodian ambassador to Thailand Ouk Sorphorn told The Post on December 3. The remark comes after Sorphorn met Iranian ambassador to Thailand Seyed Reza Nobakhti that morning. “The Iranian ambassador told me that Iran wants to buy milled rice, mango…
Cambodia and Russia are planning a joint feasibility study on a potential free trade agreement (FTA) aiming to reinforce trade and investment ties between the two countries and offset lacklustre import/export figures exacerbated by Covid-19. Ministry of Commerce secretary of state Sok Sopheak said this on December 1 when he led a ministerial delegation to…
Cambodia and South Korea on November 18 kicked off the fourth round of negotiations on a bilateral free trade agreement (FTA), which is expected to boost bilateral trade and investment once it enters into force. Ministry of Commerce spokesman Seang Thay told The Post that the talks would conclude two days later on November 20….
The Regional Comprehensive Economic Partnership agreement (RCEP) was signed on Sunday by 15 countries including China, Japan, Australia, Vietnam, South Korea, and Cambodia jointly covering a total population of more than 2.3 billion people – five times the size of the European Union. “The agreement could help revive post-COVID economic growth, boost intra-regional trade and…
The Sihanoukville Special Economic Zone (SSEZ), will be a key driver in bilateral trade between Cambodia and China, reaching $10 billion in 2023, and could prove to be a bellwether in boosting trade activities with other countries in the region and globally, according to Deputy Prime Minister Hor Namhong. Namhong said that the SSEZ enjoys…
At least three Chinese companies are investing in industrial steaming equipment to use in the phytosanitary treatment of agricultural products for export, Minister of Agriculture, Forestry and Fisheries Veng Sakhon told The Post on Monday. This comes in response to the Chinese government’s June 9 official approval of the export of 500,000 tonnes of Cambodian…
A visceral hit of merriment captured Cambodia’s trade and investment sector as the leaders of 15 Asia-Pacific nations signed the blockbuster Regional Comprehensive Economic Partnership (RCEP) trade pact on Sunday. Insiders voiced their enthusiasm for the agreement which they say will allow the Kingdom to expand trade and attract more investment from signatory countries. Leaders…
Two planned frontier markets in Svay Rieng and Kampot provinces have yet to break ground, relevant provincial authorities said on Tuesday. Prime Minister Hun Sen has ordered the Ministry of Commerce to work with Svay Rieng and Kampot officials to build two additional border markets in a bid to shore up border trade and enhance…
The agricultural and agribusiness industry are in great spirits after the Kingdom signed a memorandum of understanding (MoU) with Hungary on cooperation in the sector. The MoU is expected to provide a shot in the arm for agricultural exports and allure more Hungarian investors to the Kingdom. “The signing of the MoU will bring about…
Russian ambassador to Cambodia Anatoly Borovik and Minister of Economy and Finance Aun Pornmoniroth meet at the ministry on Wednesday. FINANCE MINISTRY Russia has reiterated its commitment towards shoring up bilateral trade volume and alluring more investment to Cambodia, helping pull the Kingdom’s economy out of post-Covid-19 doldrums. This comes as the Kingdom negotiates a…
The National Assembly on Monday approved the First Protocol to Amend the Agreement on Comprehensive Economic Partnership among Japan and Member States of the Association of Southeast Asian Nations (AJCEP – 1st Protocol). Cambodia expects to expand its market to Japan and woo more investors from the economic powerhouse of the Pacific through the perks…
Since the EU-Vietnam Free Trade Agreement (EVFTA) took effect in the middle of this year, export volumes of Vietnamese shrimp to the EU have increased 10 to 20% compared to the same period last year, bringing export volumes in the first nine months to 2.7 billion USD, up 10%. Shrimp is among the items in…
The Regional Comprehensive Economic Partnership (RCEP) is set to be signed next month at the 4th RCEP Summit during the 37th ASEAN Summit in Vietnam in mid-November, Cambodian Minister of Commerce Pan Sorasak said on Sunday. Experts said the deal will open a wealth of new market opportunities for Cambodia to diversify its export portfolio…
A senior executive officer of Cambodian rice-crackers manufacturer Lyly Food Industry Co Ltd has said the company will build a special economic zone (SEZ) in Sihanoukville province and plans to launch it next year. She said Kampong Seila SEZ is around 79 hectares for setting up factories and industries. “We plan to launch the SEZ…
Vietnam has been making great strides in projecting itself as an effective leader, particularly with its proactive governance in handling the COVID-19 pandemic, climate change policy, and for its political stability. There has been recent speculation regarding Vietnam taking-up the role as new de facto leader of ASEAN. Vietnam has achieved the United Nations’ (UN)…
Cambodia and China on Monday signed a bilateral free trade agreement (FTA) following three rounds of negotiations held between January and July. The two countries hope that goods exchange and investment flows will pick up steam as the new deal guarantees tariff-free access for Cambodian commodities to the Kingdom’s largest export market. Seang Thay, a…
Cambodia and South Korea have productively concluded the third round of negotiations on a bilateral free trade agreement (FTA), which is expected to boost bilateral trade and investment once it enters into force. Ministry of Commerce spokesman Seang Thay told The Post on Sunday that the talks concluded on Thursday. Korean ambassador to Cambodia Park…
State Councillor and Minister of Foreign Affairs of the People’s Republic of China, Wang Yi, arrived in Cambodia on Sunday for an official visit which will include a meeting with Prime Minister Hun Sen and other senior officials. Three documents will be signed, including the Cambodia-China Free Trade Agreement (CCFTA), the Exchange of Note for…
Cambodia and the Republic of Korea (ROK) have pledged to finalise their Free Trade Agreement (FTA) negotiations by the end of the year to increase trade and investment between the two countries. Minister of Economy and Finance Aun Pornmoniroth noted that the previous two rounds of bilateral free trade agreement negotiations between Cambodia and the…
The government is studying the possibility of a railway from Phnom Penh to Bavet town, the Cambodian-Vietnamese international border checkpoint. The project would contribute to better trade between the two countries, according to transportation sector insiders. Ministry of Public Works and Transport undersecretary of state Ly Borin told The Post on Monday a new railway…
The National Assembly’s 9th Committee on Monday unanimously approved the draft law on the ASEAN-Hong Kong Free Trade Agreement (AHKFTA). This paves the way for the government to continue the ratification process of the free trade agreement (FTA) in a bid to secure a new regional export market. In a press release issued following the…
Hanoi (VNA) – Cambodian Prime Minister Samdech Techo Hun Sen has shared his pride over the growing bilateral trade between Cambodia and the US despite the COVID-19 pandemic, saying that two-way trade saw an annual hike of 17 percent in the first eight months of this year. In order to attract more investors, especially when…
Cambodia and the UK have vowed to boost their bilateral trade as the Kingdom looks to establish a bilateral free trade agreement with the country. The understanding was made during a meeting between secretary of state of the Ministry of Commerce Sok Sopheak and deputy chief of mission at the British Embassy in Cambodia Marc…
For the past three decades, Vietnam has known only good — or great — economic news. The nation’s consistent growth as an exporter, propelled by Communist leaders who began embracing market-oriented policies in the late 1980s, pushed many into the middle class. The coronavirus pandemic changed all that. With garment companies seeing orders slashed and…
Cambodia and China wrapped up free trade agreement (FTA) talks on Monday, the Ministry of Commerce said. The deal is expected to propel bilateral trade to $10 billion by 2023, the Chinese embassy in Phnom Penh said. Once signed later this year, the deal will enable the liberalisation of trade in goods and services and…
Cambodia is studying the possibility of establishing a bilateral free trade agreement (FTA) with India to open a new market with the second-largest regional economy. This comes as an FTA with China is scheduled to be signed next month while similar negotiations with South Korea have also started. Cambodian Chamber of Commerce vice-president Lim Heng…
HÀ NỘI — The free trade agreement between the European Union and Việt Nam, known as the EVFTA, which was signed on June 30 last year, will enter into force on August 1. The EVFTA will abolish 65 per cent of the duties on EU exports to its developing partner, with the remainder phased out…
The Chinese investment company and mango exporter Cam MJ Agricultural Park Co Ltd is installing a packaging machine and industrial steaming equipment for pest control at its newest facility in Kampong Speu province. This comes following the Chinese government’s June 9 official approval of the export of 500,000 tonnes of Cambodian fresh mangoes per year…
US-based hardwood flooring manufacturer AHF Products has announced that it will fulfil its orders solely out of its Sihanoukville facility, and will cease operations in Shanghai, China, reported Hardwood Floors Magazine. Preah Sihanouk Provincial Hall spokesman Kheang Phearum told The Post that AHF Products, registered in Cambodia as Fine Flooring (Cambodia) Co Ltd, built its…
South Korean officials have expressed their intention to sign a free trade agreement (FTA) with Cambodia next month to boost bilateral trade, news hailed by local businessmen. The Korea Herald quoted South Korea’s Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki as saying on Monday: “Since the proposal for an FTA with…
The coastal province of Preah Sihanouk – considered to be one of the Kingdom’s economic hubs and a southwest rising star of the country – will soon be home to six more special economic zones (SEZ). The additions will bring the total number of industrial parks in the province to 10, the provincial administration reported….
Cambodia reached an official agreement with China on Tuesday to export fresh mangoes in a milestone decision which will open a giant new market for local producers. The Chinese government officially approved the export of 500,000 tonnes of Cambodian fresh mangoes per year to the country, where total demand for mangoes stands at about eight…
According to local media reports, Cambodia is accelerating its efforts to obtain market access to China for several of its agricultural products, with special priority being placed upon fresh mangos, longans, dragon fruit, coconuts, peppers and edible bird’s nests. Although the ongoing COVID-19 epidemic has brought some degree of inconvenience and uncertainty to these efforts,…
United States President Donald Trump announced on Friday that he plans to begin stripping Hong Kong of its special trading status, but left many important questions about the city’s future as a financial and commercial hub unanswered. The move will affect “the full range of agreements” the US has with Hong Kong “with few exceptions”,…
The Cambodia-China Free Trade Agreement is expected to be finalised next month. This comes as the Kingdom strives to develop a range of policies and strategies to boost international exports, and establish bilateral free trade agreements (FTAs) with countries around the world. Two other possible deals are in negotiations, South Korea and the Eurasian Economic…
Vietnam is expected to ratify EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA) on May 20, official sources confirmed on Tuesday. https://www.plenglish.com/index.php?o=rn&id=55620&SEO=vietnam-is-ready-to-ratify-fta-with-european-union
Cambodia exported more than $1.6 billion worth of goods to the US in the first three months of this year, a sharp 42.29 per cent year-on-year increase from $1.1 billion, said a US Census Bureau report. https://www.thestar.com.my/news/regional/2020/05/07/cambodian-exports-to-us-soar-42-to-us16-billion-in-q1
The second round of negotiations for a Cambodia-China Free Trade Agreement highlighted the potential for expanding trade, investment, services, and strengthening cooperation between the two countries in the upcoming years, Ministry of Commerce secretary of state Sok Sopheak said in a press release on Friday. “The two countries’ negotiation teams agreed on several chapters in…
A free trade agreement (FTA) between Cambodia and China is expected to be finalised in November in a move to boost trade between the two countries, the Phnom Penh Post reported. During bilateral talks from January 20-23 last year in Beijing, Cambodian Prime Minister Hun Sen and his Chinese counterpart Li Keqiang greenlighted a feasibility…
Chinese President Xi Jinping has pledged to encourage Chinese investors to do business in Cambodia, contributing to the kingdom’s economic development. The Chinese leader expressed his deep gratitude for Hun Sen’s support, adding the visit demonstrated Cambodia places higher trust in China. Xi affirmed that China will continue facilitating the negotiation of a bilateral free…
A Cold War battleground once looked like one of the few winners as the two superpowers vied for dominance. Now it’s bracing for trouble. Early on in the U.S.-China trade war, Vietnam was shaping up as one of the world’s few winners. Investments flowed in and products shipped out of its busy ports in ever-increasing…
Vietnam in Southeast Asia is one of the best growing economies in the region. The country has become an attractive destination for investment from all over the globe. The trade wars between the US and China have certainly contributed to this outcome. Since the US has stopped cooperating with China in a number of industries,…
