Cambodia is expected to export 1,000 tonnes

Phnom Penh, Oct 17 (VNA) – Cambodia is expected to export 1,000 tonnes of cotton to Vietnam by the end of this year, said executive in the industry.

Kong Chan, Managing Director of Cambodia’s Seladamex Co., Ltd, said his company is working with its Vietnamese partners to seek a consensus for the trading and if successful, this will be Cambodia’s largest contract to export cotton since 1970, marking a milestone for the development of the cotton industry in Cambodia.

Cotton-growing areas have been narrowed in Cambodia since 1979 due to low selling price and difficulties in finding markets.

According to statistics released by the Vietnam Chamber of Commerce and Industry in Cambodia, trade between Vietnam and Cambodia had by the end of August reached 848 million USD, down 29.2 percent from a year ago. Of which, 726 million USD were Vietnam’s exports to Cambodia.

Cambodian economists said that despite the downturn this year, two-way trade is expected to increase strongly by 2010 to reach 2 billion USD as Cambodia’s economy will rebound next year.

Cambodia seeks to export cotton to Vietnam

Thursday, October 15, 2009
VNA (Hanoi)

Cambodia is expected to export 1,000 tonnes of cotton to Vietnam by the end of this year, said executive in the industry.

Kong Chan, Managing Director of Cambodia’s Seladamex Co., Ltd, said his company is working with its Vietnamese partners to seek a consensus for the trading and if successful, this will be Cambodia’s largest contract to export cotton since 1970, marking a milestone for the development of the cotton industry in Cambodia.

Cotton-growing areas have been narrowed in Cambodia since 1979 due to low selling price and difficulties in finding markets.

According to statistics released by the Vietnam Chamber of Commerce and Industry in Cambodia, trade between Vietnam and Cambodia had by the end of August reached 848 million USD, down 29.2 percent from a year ago. Of which, 726 million USD were Vietnam’s exports to Cambodia.

Cambodian economists said that despite the downturn this year, two-way trade is expected to increase strongly by 2010 to reach 2 billion USD as Cambodia’s economy will rebound next year.

Oil high on Qatar prime minister's Cambodian agenda

Tue, 01 Apr 2008
DPA

Phnom Penh - Oil and gas issues were high on Qatar Prime Minister Sheikh Hamad bin Jassem bin Jabor Al Thani's agenda on day one of his two-day official visit to Cambodia, a government spokesman told a press conference Tuesday. The sheikh, who is also Qatar's foreign minister, met with Cambodian Prime Minister Hun Sen and almost immediately inked deals ranging from oil and gas exploration cooperation to direct airline flights, government spokesman Khieu Kanharith told journalists.

After being presented with a gift of Cambodian sandalwood by Hun Sen, the Qatar politician signed an expected deal on direct flights between the Qatari capital of Doha and the Cambodian capital, as well as the northern tourist town of Siem Reap.

The sheikh also answered a call by Cambodia for foreign donors to assist it to prepare for an expected influx of oil and gas revenue from offshore oil reserves predicted to be tapped within three years.

He agreed to assist with training of Cambodians in oil and gas exploration, as well as teaming up with the Cambodian government in the future to increase exploration for oil, gas and minerals.

Cambodia has been described as Asia's new mining frontier and the government is hopeful additional petroleum deposits lie under its massive inland Tonle Sap lake.

"He also negotiated for Qatar to begin farming cotton in Cambodia and agreed to loans for roads and irrigation," Kanharith said.

The leaders also discussed investment protection legislation and a multi-million-dollar donation for a new school just outside of the capital.

The sheikh is scheduled to fly to Siem Reap Wednesday to visit the ancient Angkor Wat temple complex before flying out the same day.