Cambodia and the UK have pledged to further boost trade cooperation after January-August bilateral trade soared more than two-fifths compared to the same period last year. In the first eight months of 2022, trade between the two countries totalled $687.002 million, up 44.0 per cent year-on-year, with Cambodian exports to the UK worth $627.223 million, rising 42.1 per cent, and imports amounting to $59.778 million, surging 67.4 per cent, according to the General Department of Customs and Excise (GDCE). The two countries reaffirmed their commitment to further boost trade during a September 23 meeting between Minister of Commerce Pan Sorasak…
Author: Hin Pisei
Prime Minister Hun Sen has laid out five general recommendations to swiftly steer the Kingdom’s ailing tourism sector back to its former glory, while making the most out of 2022, which the government recognises as the first full year of the recovery journey. The recommendations were made in a message dated September 19 issued by the premier on the occasion of the 42nd World Tourism Day, which is set to be celebrated internationally eight days later under this year’s theme of “Rethinking Tourism”. The first of these recommendations is to support the development of a diverse range of quality, safe,…
First-half (H1) bicycle exports surged by 55.48 per cent year-on-year, the finance ministry confirmed, extending a multi-year uptrend driven by growing eco-consciousness, health concerns and fitness culture, and more recently, Covid-linked lifestyle shifts and elevated fuel prices. Cambodia’s January-June bicycle exports were worth a total of $455.89 million, versus the $293.2 million recorded in the same period last year, according to the Ministry of Economy and Finance. An earlier Fresh News report, which cited Ministry of Commerce spokesman Seang Thay, indicated that the figure represented 1,701,285 bicycles with an average value of $267.97 each. Finance ministry statistics showed that first-quarter…
Cambodia is looking to drum up interest among Korean investors in the production of goods in the Kingdom for export to their home market, and push bilateral trade beyond current levels – $549.930 million in the first eight months of 2022, up by 6.42 over the same period last year, as reported by Customs. To this effect, Ministry of Commerce permanent secretary of state Kem Sithan met with a delegation of the Korea Importers Association (KOIMA), led by its chairman Kim Byung-kwan who is also CEO of Bronte Family Co Ltd CEO, at his ministry on September 19 to discuss…
Cambodia has resumed the formal export of processed cashew nuts to Japan following a nearly half-year hiatus due to regulatory issues on the Japanese side, according to the owner of the Kingdom’s sole exporter of the edible seeds to the East Asian market. In collaboration with Japanese firm Top Planning Japan Co Ltd (TPJ), local processor-and-exporter Chey Sambor Cashew Nut Processing Handicrafts began shipping the nuts to the East Asian market last year, sending more than 45 tonnes as of March this year, including its last pre-hiatus consignment. But then, Tokyo began requesting an additional certificate concerning quality and compliance…
Government officials are considering piloting a scheme that would allow Thai tourists with official residence in any of the seven provinces that border Cambodia to travel overland to Siem Reap province, especially Angkor Archaeological Park, with only a border pass and not a passport. The idea was raised at a September 19 plenary meeting of the inter-ministerial commission tasked with facilitating travel into Cambodia at all ports of entry, which was held at the Ministry of Tourism and presided over by its chairman Thong Khon, who is also the tourism minister. Siem Reap does not border Thailand, which would require…
The nearly 160 per cent surge in investment capital behind a slew of new large-scale investment projects outside of Cambodia’s special economic zones (SEZ) reported for the first half of 2022 has fanned optimism for a boom in production and exports – underpinned by favourable international commercial arrangements – as well as a reduction in the over $6 billion trade deficit logged for the January-August period. Effective control of Covid-19 coupled with a rapid and essentially full resumption of economic activity has led to largely positive trends in all areas for the Kingdom, with 75 private non-SEZ investment projects approved…
The Angkor Wildlife and Aquarium complex about 30km southeast of Siem Reap town with initial total investment of more than $70 million is reportedly still on track for an end-October opening. The park is located on a 100ha plot along National Road 6 in Kbon village, Khchas commune, Sotr Nikum district, Siem Reap province about 7km northwest of Damdek village, where the road intersects with National Road 64. Sotr Nikum district governor Mak Bros told The Post on September 19 that the Japanese- and US-invested Angkor Wildlife and Aquarium was created as a “world-class entertainment venue” for “visitors from everywhere”…
Cambodia exported $304.385 million worth of rubber latex and wood in the first eight months of 2022, down by 6.7 per cent from the $326.339 million posted in the same period last year, according to the General Directorate of Rubber (GDR) under the Ministry of Agriculture, Forestry and Fisheries. Rubber latex accounted for $301.294 million, weighing in at 194,014 tonnes, up 1,453 tonnes year-on-year, while wood represented $3.092 million, totalling 20,629 cubic metres. GDR head Him Aun said Covid-19-linked and other setbacks to global economic growth, the Sino-US geopolitical tussle and Ukraine conflict have led to rubber’s recent rather weak…
Cambodia’s air cargo volume totalled 38,783 tonnes in the first eight months of 2022, representing a 10.77 per cent fall year-on-year, and a one-fifth drop over the same period in 2019 before the emergence of the Covid-19 pandemic, the aviation regulator reported. The decline is largely blamed on prolonged Covid-19 disruptions that have kept some countries from fully lifting restrictions, heightened oil prices linked to Russia’s military offensive in Ukraine, and an escalation of political tensions surrounding Taiwan, Logistics and Supply Chain Business Association in Cambodia (Loscba) president Chea Chandara told The Post on September 18. Despite this, production systems…