Economy and commerce
Trade
Cambodia’s Rubber exports + 12%, revenues off 27% in 1st 9 months of Y 2012
Cambodia Monday reported a 12% rise in rubber latex exports in the first nine months of this year; however, revenues from the exports went down by 27% due to declining rubber prices in the international market. ...
NGOs Call for Asean Rights Document Delay
With less than two weeks until Asean leaders meet in Phnom Penh to consider approval of the region’s first human rights declaration, international NGOs yesterday urged them to postpone passing what they are calling a “deeply flawed” document. “In the current form, the [Asean Human Rights] ...
Phnom Penh Port Cargo Up 15 Percent on Last Year
The amount of cargo entering Cambodia through the Phnom Penh Autonomous Port increased 14.92 percent over the first 10 months of the year compared to the same period in 2011, a port official said yesterday. “We are seeing that the major imports are construction equipment ...
Hedging China risks, Japan firms turn to booming SE Asia
Hiroshi Uematsu had a tough start in Cambodia, where he heads an economic zone that aims to attract business from his native Japan. He arrived just before the global financial crisis sent the Asian Economic Minnow’s exports into a tailspin and dried up investment interest. Now, ...
Paddy Rice Price Fluctuates
The price of paddy rice in Cambodia’s northwestern provinces jumped to 1,500 riel from 1,350 riel per kilogram in mid-October on a lack of supply, but quickly fell to 1,360 riel. Meanwhile, the prices in the Cambodia-Vietnam border provinces rose from 1,300 riel to 1,390 ...
http://www.phnompenhpost.com/index.php/2012110659583/Business/paddy-rice-price-fluctuates.html
Cambodia, a potentially lucrative market for Vietnam
Exporting Vietnamese products to Cambodia is beneficial to both countries, however, in order to hold onto this market, Vietnamese firms must remain proactive and consistently advertise their brands and improve quality of their products and services. ...
Cambodia spends $1.22 b to buy oil in 9 months
Cambodia spent $1.22 billion to purchase petroleum from foreign suppliers in the first nine months of this year, a 18 percent rise compared with $1.03 billion it spent during the same period last year, a Commerce Ministry’s report showed Monday. ...
Ministry fires back over EU resolution
A week after the European Parliament issued a damning resolution on Cambodia’s human-rights situation and called for a revoking of trade privileges, the Ministry of Foreign Affairs has shot back. “It is essential for the EU parliament to study and better understand the situation before passing ...
Trade with Thailand increases
Trade between Cambodia and Thailand increased by about 40 per cent to US$3 billion in the first nine months of this year in comparison with the same period last year, according to figures provided by the Royal Embassy of Thailand in Cambodia. According to Nat Vimonchandra, ...
http://www.phnompenhpost.com/index.php/2012110559559/Business/trade-with-thailand-increases.html
Indonesia in Talks With Cambodia Over Rice Export Deal
An Indonesian trade delegation is scheduled to visit Cambodia this month to finalize a trade deal that could see up to 100,000 tons of rice exported to Indonesia each year, Thon Virak, director general of state-owned rice exporter Green Trade Co., said on Friday. “Indonesia wants ...
Indonesia to import 100,000 tons of rice from Cambodia
Indonesia will import 100,000 tons of rice from Cambodia next month, Trade Ministry director general for foreign trade Deddy Saleh has said. The importation is a follow up from a joint trade agreement signed in August this year. “For the first batch, we will import 100,000 tons ...
http://www.thejakartapost.com/news/2012/11/01/indonesia-import-100000-tons-rice-cambodia.html
Hun Sen: remove ASEAN trade barriers
Prime Minister Hun Sen has called for the removal of all tariff and non-tariff barriers when the ASEAN Economic Community (AEC) integrates in 2015, saying it is of central importance. Speaking at the opening of an ASEAN symposium in Phnom Penh on Tuesday, the premier said integration of ...
Swedish outcry has royal voice in midst
Growing calls in Sweden for multinational clothing giant H&M to increase wages for Cambodian garment workers have taken a royal twist. Cambodia’s Prince Charin Norodom, 38, who has lived in Sweden for more than 30 years, told the Post yesterday that he had been working behind ...
Hong Kong seeking trade ties
During a visit to Phnom Penh this week, Greg So, Hong Kong’s Secretary for Commerce and Economic Development, reiterated Hong Kong’s desire to be inducted into the ASEAN-China Free Trade Agreement and highlighted Cambodia as a potential beneficiary for foreign direct investment from Hong Kong. In So’s view, economic ...
http://www.phnompenhpost.com/index.php/2012103159498/Business/hong-kong-seeks-trade-ties.html
Cambodian vegetable farmers forced to compete with Vietnamese rivals
Cambodian vegetable farmers say they are being forced to compete with more efficient farmers in Vietnam who use farming techniques to make their vegetables grow faster. Farmers in Sambork Meas, a village on the Mekong River in Mokkompul commune in Bakkeng district in Kandal province, say ...
Hun Sen calls for complete removal of ASEAN trade barriers
Prime Minister Hun Sen called on Tuesday for the complete removal of tariff and non-tariff barriers when the ASEAN Economic Community is set up in 2015 Hun Sen also called for enhanced trade facilitation, further services liberalization and a regional framework for liberalizing and facilitating cross-border ...
First financial leasing company for Cambodia
GL Finance (GLF), the first and only financial leasing company in Cambodia, opened its 11th branch in Phnom Penh on Friday, covering all authorized Honda and NCX dealerships in Phnom Penh and its vicinity. GLF, in partnership with Honda NCX, helps customers buy their own motorbikes and provides ...
Beef price almost doubles
High demand for beef, particularly during the Islamic Qurban festival which ended yesterday, caused beef prices to almost double compared with the same period last year, according to Islamic leaders and officials. Him Khortieth, IKatan Mahabbah Muslimin’s (IMAN) representative in Cambodia, said the association planned to ...
http://www.phnompenhpost.com/index.php/2012103059462/Business/beef-price-almost-doubles.html
Milled rice boost: Cambodia gets US$1 million grant for milled rice exports
Cambodia has received a US$1 million grant in order to develop its milled rice industry and strengthen the country’s exporting capacity, according to the Cambodian Ministry of Commerce. It is part of a larger, US$3-4 million grant from the Enhanced Integrated Framework (EIF), a partnership ...
H&M slammed over wages
Criticism has mounted against Swedish multinational clothing company H&M in its home country following a documentary released last week that sheds light on wages in its source factories in Cambodia. The episode of Swedish network TV4’s Kalla Fakta, or Cold Facts, focuses mainly on Cambodian garment ...
http://www.phnompenhpost.com/index.php/2012102959442/National-news/ham-slammed-over-wages.html
Europe Adopts Resolution on Cambodian Rights Situation
Drawing from a long list of human rights abuses, the European Parliament has urged the Cambodian government to stop forced evictions, called on the European Commission (E.C.) to investigate the country’s controversial land concessions policy, and raised the prospect of sanctions. In a resolution passed Friday ...
http://www.cambodiadaily.com/news/europe-adopts-resolution-on-cambodian-rights-situation-4862/
European body sends a message
The European Parliament, representing one of the country’s largest donors, on Friday called for a moratorium on forced evictions, an overhaul of elections and even went so far as to suggest to the European Union that it suspend tariff-free imports of agricultural goods linked to ...
Trade with Vietnam slows
Bilateral trade between Cambodia and neighboring Vietnam grew by 17 per cent in the first nine months of the year compared to the same period last year, a decrease from previous years, the Vietnam Trade Office in Cambodia said yesterday. The data showed a total trade volume ...
http://www.phnompenhpost.com/index.php/2012102659432/Business/trade-with-vietnam-slows.html
Major boulevards increasing in price
The sale and purchase of land along the four major boulevards in Phnom Penh climbed up to 40 per cent in the third quarter of 2012, while the construction of offices is gradually on the rise, according to real estate experts. The growth of land prices ...
http://www.phnompenhpost.com/index.php/Real-Estate/land-price-along-boulevards-on-the-rise.html