Cambodia stands at the forefront of foreign direct investment (FDI) in Asia, anticipating a robust influx of capital in 2024, buoyed by a solid economic recovery. The International Monetary Fund (IMF) projects the country’s growth to reach 6.1% next year, as highlighted in the annual FDI Standouts Watchlist from fDi Intelligence, the industry analysis division…
Economists are optimistic that bilateral trade between Cambodia and the United Arab Emirates (UAE) will further increase following the two countries’ commitment to strengthen and expand trade. The positivity comes in light of the implementation of the Cambodia-UAE Comprehensive Economic Partnership Agreement (Cambodia-UAE CEPA) set to come into effect soon. Minister of Commerce Cham Nimul…
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…
Hin Pisei | Publication date 27 October 2022 | 20:13 ICT Agriculture minister Dith Tina (right) and Chinese ambassador Wang Wentian (third right) look at arrangements of Pailin longan at an event marking the inaugural export of the fruit from Cambodia to China on October 27. Heng Chivoan Longan on October 27 became the third…
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,…
Cambodia is basing hopes for a post-pandemic economy recovery on free trade agreements with China and South Korea, and membership in the Regional Comprehensive Economic Partnership. RCEP is a free-trade agreement including the 10 members of the Association of Southeast Asian Nations, as well as China, Japan, South Korea, Australia and New Zealand that will…
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-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…
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…
PHNOM PENH — In early June, nine women in red gowns held platters of mangoes as Cambodian and Chinese dignitaries cut a red ribbon strung between the piles of tropical fruit grown by farmers in Cambodia to celebrate new trade items sent to China. Concluded with the release of balloons, the ceremony at a wholesale…
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…
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…
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….
With the recent release of the Google e-Conomy SEA 2020 Report on investment trends in Southeast Asia, investors are cautious, yet optimistic, about the financing scene. One example of continued growth is in Vietnam. While already burgeoning in 2019 with $362.5 billion USD in investments, the country has remained relatively stable with funding in the…
The Mekong Delta needs to develop value-added agricultural products to enter global value chains, officials have said. With an open economy, Vietnamese-made goods will face strong competition from foreign-made goods. Le Minh Hoan, Deputy Minister of Agriculture and Rural Development, pointed out that application of scientific and technological advances in agricultural production are needed to create…
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…
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…
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…
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…
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…
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…
