Economy and commerce
Trade deficit grows once more
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 ...
Hor Kimsay
https://www.phnompenhpost.com/business/trade-deficit-grows-once-more
Final day for EU to get EBA withdrawal views
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 ...
Niem Chheng
https://www.phnompenhpost.com/national-politics/final-day-eu-get-eba-withdrawal-views
Kamsab removed from ports as Kingdom braces for loss of preferential trade access
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 ...
Businesses express ‘deepest’ EBA concerns
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 ...
Hin Pisei
https://www.phnompenhpost.com/business/businesses-express-deepest-eba-concerns
China increases rice import quota
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, ...
Hor Kimsay
https://www.phnompenhpost.com/business/china-increases-rice-import-quota
Charcoal exports banned
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. ...
Khouth Sophak Chakrya
https://www.phnompenhpost.com/national/charcoal-exports-banned
Tariff-free through EU loophole?
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. ...
Hor Kimsay
https://www.phnompenhpost.com/business/tariff-free-through-eu-loophole
Kingdom imports $16M in Thai ACs
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. ...
Hin Pisei
https://www.phnompenhpost.com/business/kingdom-imports-16m-thai-acs
Cambodian rice to lose EU duty-free status
The Cambodian rice sector is set to lose its duty-free export status to the EU today – its major rice market – after the European bloc decided to impose tariffs on rice from Cambodia and Myanmar to curb a surge in such imports. ...
Hor Kimsay
https://www.phnompenhpost.com/business/cambodian-rice-lose-eu-duty-free-status
Cambodia to end border check
Cambodia’s Prime Minister Hun Sen has unveiled a new campaign to boost economic independence and reduce the reliance on preferential trade statuses offered by advanced countries, saying the government will provide better trade facilitation and eliminate unnecessary procedures. ...
Economy grew 7.3 pct in 2018: Ministry
On the back of strong growth in the garment, construction and hospitality sectors, the national economy expanded by 7.3 percent last year, according to the Ministry of Economy and Finance. Presenting on the ministry’s latest report during a public forum on macroeconomic management and the ...
Chea Vannak
https://www.khmertimeskh.com/50569205/economy-grew-7-3-pct-in-2018-ministry/
Camcontrol may leave border
Prime Minister Hun Sen recently unveiled a new campaign to boost economic independence and reduce the reliance on preferential trade statuses offered by advanced countries, saying the government will provide better trade facilitation and eliminate unnecessary procedures. At a dinner with 5,000 Cambodian journalists on Friday, ...
Hor Kimsay
https://www.phnompenhpost.com/business/camcontrol-may-leave-border
US senators call for GSP trade privilege cut
Two US senators on Wednesday introduced the Cambodian Trade Act of 2019 bill, requiring the administration to re-examine Cambodia’s eligibility to access the preferential trade treatment granted by the US under the General System of Preferences (GSP). ...
Hor Kimsay
https://www.phnompenhpost.com/business/us-senators-call-gsp-trade-privilege-cut
Kingdom’s rice exports down 1.5%
The Kingdom’s rice exports saw a 1.5 per cent drop last year compared to 2017 due to the industry’s lingering challenges – the cost of production and competition with the international market. Ministry of Agriculture, Forestry and Fisheries figures show that the country exported 626,225 ...
Cheng Sokhorng
https://www.phnompenhpost.com/business/kingdoms-rice-exports-down-15
Cambodia Securities Exchange market capitalisation up 40%
The Cambodia Securities Exchange (CSX) market capitalisation rose more than 40 per cent last year from 2017, mostly boosted by the rise in the Sihanoukville Autonomous Port (PAS) share price, the CSX said. ...
Hin Pisei
https://www.phnompenhpost.com/business/cambodia-securities-exchange-market-capitalisation-40
CO not needed for exports to EU
Those wishing to export their goods to the EU under the tax-free preferential scheme, Everything but Arms (EBA), are no longer required to apply for a Certificate of Origin (CO), according to a joint announcement from the ministries of Commerce, and Economy and Finance on ...
Kun Kourchettana
https://www.phnompenhpost.com/business/co-not-needed-exports-eu
First banana shipment to China confirmed
Longmate Agriculture Co has announced that it will conduct a test shipment of bananas to the Chinese market next month, which will be followed by the company’s first official shipment to China in February. ...
Chea Vannak
https://www.khmertimeskh.com/50564243/first-banana-shipment-to-china-confirmed/
Chinese salt imports reach Cambodia at $100 per tonne
Salt imports from China are expected to sell at $100 per tonne in the Cambodian market, $25 more per tonne than local salt, according to the Salt Producers Community of Kampot-Kep (SPCKK). ...
Cheng Sokhorng
https://www.phnompenhpost.com/business/chinese-salt-imports-reach-cambodia-100-tonne
Government approves 269 trademarks
The Ministry of Commerce approved 269 business trademarks this year, bringing the total number of such registrations at the ministry to 4,186 – an increase from 3,917 last year, its annual report said. ...
Cheng Sokhorng
https://www.phnompenhpost.com/business/government-approves-269-trademarks
Commerce ministry makes $82M
The Ministry of Commerce generated more than $82 million this year in customs and public services, according to the ministry’s annual report. ...
Cheng Sokhorng
https://www.phnompenhpost.com/business/commerce-ministry-makes-82m
All-time high for Securities Exchange trading volume
The Cambodia Securities Exchange (CSX) recorded its highest ever trading volume on Monday, exchanging 2,150,535 shares with a total value of more than $4.43 million, according to a CSX press release. The previous record was 939,498 shares traded on July 5, 2017. ...
Hin Pisei
https://www.phnompenhpost.com/business/all-time-high-securities-exchange-trading-volume
Report: Kingdom’s total exports increase to $10 billion this year
The Kingdom’s total exports for this year increased more than 23 per cent from last year to $10.36 billion, led by garments and agro-products, according to the Ministry of Commerce’s annual report. ...
Cheng Sokhorng
https://www.phnompenhpost.com/business/report-kingdoms-total-exports-increase-10-billion-year
Experts call for faster, cheaper business registration process
To encourage more young people to become entrepreneurs, the government must prioritise improving the process of starting and registering a business, reducing capital requirements, and expanding access to finance, experts said last week. ...
Sok Chan
https://www.khmertimeskh.com/50562154/experts-call-for-faster-cheaper-business-registration-process/
Development projects are given green light
Eleven development projects in the Kingdom were approved by the Council for the Development of Cambodia (CDC), bringing $297 million in total investment and more than 6,000 jobs to the Kingdom’s industry, according to a CDC press release posted on Facebook on Friday. ...
Post Staff
https://www.phnompenhpost.com/business/development-projects-are-given-green-light