Economy and commerce

Prime Minister Hun Sen on Wednesday reiterated that he would not be overly concerned if Cambodia had its access to the EU’s preferential “Everything But Arms” (EBA) agreement withdrawn because the Kingdom would not die without it. Hun Sen was speaking to factory workers in ...

Civil society groups and associations released a public statement on Tuesday expressing concern over the EU starting the process to withdraw Cambodia’s access to its preferential “Everything But Arms” (EBA) agreement, as a delegation from the bloc landed in Phnom Penh the same day. ...

Cambodia produced more that 13 million tonnes of cassava last year, a drop on 2017 despite a six per cent increase in cultivation to 650,510ha nationwide, according to the Ministry of Agriculture, Forestry and Fisheries. The data shows Cambodia produced 13,750,076 tonnes of cassava last ...

Prime Minister Hun Sen and his South Korean counterpart, President Moon Jae-in, on Friday agreed to work together to boost trade and investment between the two nations.​ On Saturday, Mr Moon left Cambodia after a three-day state visit during which he also led a delegation ...

The private sector has welcomed the government’s move to reduce the number of public holidays in the in the Kingdom – known for having the most public holidays in the world – by seven days. However, the government had just added the “Day of Remembrance” ...

An Eu delegation is set to arrive in Phnom Penh next week for a two-day official visit to discuss the process for withdrawing Cambodia’s access to its preferential ‘Everything But Arms’ (EBA) agreement, officials said on Tuesday. Meanwhile, analysts have called on the EU to ...

Cambodia’s digital economy remains at a nascent stage and will need at least 10 years to grow and aim for a technology-driven economy, said Minister of Economy and Finance Aun Pornmoniroth. Speaking at the national consultation workshop on Policy and Direction of Cambodia’s Digital Economy ...

Shenzhou International Group Holdings, a leading Chinese clothing manufacturer, on Wednesday broke ground for the construction of a new 150-million-U.S.-dollar garment factory here after operating in the country for 14 years. Lt. Gen. Hun Manet, deputy commander-in-chief of the Royal Cambodian Armed Forces, and Chinese ...

A fact-finding mission sent by the European Union will arrive in Cambodia late this month or early April, European Union Ambassador George Edgar announced this week. During a meeting Tuesday, the EU Ambassador told Minister of Commerce Pan Sorasak that an EU delegation is scheduled ...

Two US congressmen on Tuesday introduced the Cambodia Trade Act bill to ask US President Donald Trump’s administration to review the preferential trade treatment under the General System of Preferences that Cambodia receives from the United States. The CTA bill will require the administration to ...

US-based supporters of Cambodia’s former opposition party have launched a campaign to lobby US lawmakers to support legislation aimed at placing sanctions on the Cambodian government. The activists are planning to call and petition lawmakers to urge them to support the Cambodia Trade Act and ...

The Ministry of Commerce is planning a meeting with public and private actors to discuss the revocation of the European Union’s Everything-but-arms (EBA) deal and to find ways to diminish its impact on the economy, the ministry said in a press release. The ministry’s statement, ...

Cambodia has unveiled several measures to support local manufacturers and exporters in case the European Union (EU) decides to temporarily strip trade preferences from the country, according to China’s Xinhua News Agency. The Cambodian Ministry of Commerce issued a statement on February 12, saying that it ...

Rice exports last month were five per cent lower than in January last year, after a full year of decline in 2018. However, a sector insider said it is not a major concern because it is only the beginning of 2019. A report from the ...

The EU on Monday announced that it has begun the 18-month process of withdrawing the Kingdom’s access to its preferential Everything But Arms (EBA) agreement over “a deterioration of democracy [and] respect for human rights”. ...

The Gideon Group, a US-based global finance firm, yesterday announced its intention to invest $488 million in a 135-megawatt solar plant in Kandal province. In a statement issued yesterday, Gideon Group president and CEO Salman Khan said the Kandal solar project is being developed by ...

Cambodia’s trade deficit with the rest of the world continued to widen last year to $5.2 billion, as the Kingdom’s imports outstripped its exports once again, a National Bank of Cambodia (NBC) report released on Saturday said. The NBC figures revealed that the Kingdom imported $18.8 ...

Today (Tuesday) marks the final day for the EU Commission for Trade to receive the opinions of the EU bloc’s 28 member-states before deciding whether to suspend the Everything But Arms (EBA) tariff preferences for Cambodia. However a unanimous decision will be required to withdraw ...

The Cambodian government has begun a series of reforms intended to strengthen economic independence and promote business in the Kingdom, as they prepare for the possible loss of preferential trade access to the EU and US in the coming months. Prime Minister Hun Sen on ...

Private companies have expressed their “deepest concerns” over the potential withdrawal of the Everything But Arms (EBA) preferential scheme. In a joint letter to the European Commission, they said the move will negatively impact the Kingdom. The letter, signed by 40 of the Kingdom’s private ...

Four days after the EU imposed tariffs on rice imported from Cambodia, China agreed on Monday to increase its import quota for Cambodian rice to 400,000 tonnes this year from the previous 300,000 tonnes. If Cambodia can supply the quantity under the new Chinese quota, ...

Charcoal traders have complained about the high cost of “service payments” required to export to Thailand via Banteay Meanchey province’s Boeung Trakuon border crossing, forcing some to stop operating. Meanwhile, Forestry Administration officials recently imposed a blanket ban on all charcoal exports. ...

Cambodians may be able to market rice in the EU tariff-free if they sell the semi-processed grain to European millers instead of finished products to end consumers, as the former is still subject to a zero tax rate, said an exporter. ...

Air conditioner imports from Thailand were valued at about $16 million last year – a fraction of the total $5 billion Thailand earned from its air conditioner exports to international markets, the country’s Department of International Trade Promotion at the Ministry of Commerce said. ...