China, Asean pledge to boost trade ties

Thursday, August 30, 2012
Agencies

SIEM REAP (Cambodia) China and Southeast Asian nations pledged on Wednesday to strive for closer economic ties, setting aside regional tensions over a territorial row in the resource-rich South China Sea.

Trade between China and the Association of Southeast Asian Nations (Asean) jumped to over $200 billion in the first seven months of 2012, up 9 per cent year-on-year, Chinese Commerce Minister Chen Deming said during a meeting with regional economic ministers in the Cambodian tourist hub of Siem Reap.

The business relationship between Asean and China was ‘particularly important’ amid global economic gloom, he said, adding that both sides have ‘a solid basis for cooperation’ and “bright prospects”.

Canada looking to boost trade in Southeast Asia

28/08/2012

VietNamNet Bridge – Canada’s International Trade Minister Ed Fast will make a tour of four Southeast Asians from Aug 27-Sep 3 boost trade relations with the region.

The minister will be accompanied by a business delegation during the 7-day visit that takes him to Vietnam, Thailand, Cambodia and Myanmar, according to the Canadian Ministry of International Trade.

Fast said on August 26 that the fast-growing markets including the Southeast Asia are an important part in the country’s action plan in the economic field.

Cambodia's trade with UK up 48 pct in 1st quarter

PHNOM PENH, May 20 (Xinhua) -- The volume of bilateral trade between Cambodia and the United Kingdom for the first three months of 2012 is 178 million U.S. dollars, up 48 percent compared to the same period last year, according to a trade report provided by the British embassy here on Sunday.

It said the main Cambodia's products exported to the UK are garment products, footwear, sugar and honey, rice and bicycles. In return, the country imported industrial machinery, automobiles, medical and pharmaceutical products and malt from the UK.

Pan Sorasak, secretary of state at Cambodia's Ministry of Commerce, attributed the growth in the bilateral trade volume to Cambodia's political stability, good security, and favorable business environment for businesspeople.

Cambodia has currency since 4th century

PHNOM PENH, Oct. 12 (Xinhua) -- Cambodian people have had the currency since the 4th century and firstly printed it in the 15th century, official news agency AKP reported on Monday, citing Jean-Daniel Gardre, former trade and economic advisor at the French Embassy in Cambodia.

The first currency that Cambodia printed in late 15th and early 16th centuries was "Prak Sleung", Jean-Daniel Gardere wrote in his book.

According to Gardre, Cambodia had trade relations with outsider through river ports since Funan era, but at that time, currency was not popular among local people. It became popular when French Protectorate came to Indochina.

Cambodia printed its own currency and used throughout the country in 1954 after Cambodia got independence from France, Jean-Daniel Gardre added.

This 3-part and 10-chapter book published in Khmer language was launched here on Oct. 9 in a seminar on "Currency and Sovereignty", AKP said.

Cambodian prime minister invites Indian investment

Sat, 08 Dec 2007
DPA

New Delhi - Cambodian Prime Minister Samdech Hun Sen on Saturday invited Indian investment for "economic take-off and transformation in Cambodia". Addressing leaders of Indian chambers and industries Hun Sen said, "The Royal Government of Cambodia is supportive of the private sector, and has created a favourable environment for this sector to protect their investments and business activities in Cambodia."

The prime minister, who is on a four-day visit to India, said there was potential for Indian foreign direct investment in agriculture, labour intensive industries, processing, tourism, mining, and some other sections of manufacturing and services.

The investment from India can enable "economic take-off and transformation in Cambodia", said Hun Sen, who is accompanied by a 12-member delegation including five ministers.

India's Minister of State for Communications and Information Technology Dr Shakeel Ahmed, said that, "India and Cambodia have young population who can contribute to the technological development and growth of the two countries."

"Indian IT companies have significant presence in Cambodia and can further initiate the ICT (Information Communication Telecommunication) programmes of the Royal Government of Cambodia," said Ahmed.

The balance of trade between the two countries is 16.5 million dollars, with India exporting goods and services worth 16.7 million dollars and importing goods and services worth 20,000 dollars in 2005-06.

New products and services should be identified to enhance bilateral trade ties, said Chairman, Federation of Indian Chambers of Commerce and Industry, D Datta.

Indian business leaders supported co-operation in biotechnology, bio-informatics, broadcasting, communication, education, human resources and skill development.

Hun Sen, who arrived in India on Friday, was given a ceremonial reception on Saturday, which was followed by a meeting with India's Minister of External Affairs, Pranab Mukherjee, President Pratibha Patil and Vice President Hamid Ansari.

The Cambodian prime minister is scheduled to meet Indian Prime Minister Manmohan Singh today and the two sides are expected to sign several agreements aimed at enhancing bilateral cooperation.

He is scheduled to leave for the southern city of Hyderabad on Sunday where he will visit the National Institute of Rural Development and an information technology centre.

Hun Sen's earlier visit to India in July was abruptly terminated when the country went into state mourning after the death of former prime minister Chandra Shekhar.

Vietnam eyes more overland trade with Cambodia

Friday, March 16, 2007
Thanh Nien News (Hanoi, VN)

The Vietnamese government has instructed some provinces bordering Cambodia to upgrade their border gates to boost trade and business between the two countries.

A directive signed by Deputy Prime Minister Pham Gia Khiem calls for the checkpoints in the central highlands province of Gia Lai and southern provinces of Dong Thap and Kien Giang to be upgraded from national to international level.

Three others in Dak Lak, Long An, and Kien Giang provinces will be elevated to national-level checkpoints.

Two new local facilities are to be opened, one in Tay Ninh province and the other in Binh Phuoc province.

Last year Vietnam’s exports to Cambodia were worth $780 million, mainly of clothes, electrical cables, domestic plastic products, noodles, and electronic spare parts.

It imported rubber, forest, and agricultural products worth around $170 million from Cambodia.

Vietnam-Cambodia trade is expected to grow by 27 percent annually to reach US$2.45 billion by 2010.

Meanwhile, at a conference in Vung Tau city Thursday, Vietnamese and Cambodian health officials agreed to cooperate on border quarantine control to check the spread of contagious diseases like bird flu and severe acute respiratory syndrome, or SARS.

Source: Nguoi Lao Dong, TTXVN – Translated by Tuong Nhi

Vietnam-Cambodia trade to post 27-pct annual growth by 2010

February 24, 2007

Trade between Vietnam and Cambodia is expected to annually rise 27 percent to 2.45 billion U.S. dollars in 2010, according to a local trade agency on Friday.

Of the total trade, Vietnam is expected to export goods worth some 1.9 billion dollars to the foreign country, said the Export and Import Department under the Trade Ministry.

Vietnam, the 4th biggest exporter of Cambodia, is expected to increase the export percentage of industrial products to the neighbor country, while decreasing that of fuels and minerals, and maintaining that of agricultural, forestry and fishery products, and foodstuffs.

Specifically, the export percentages of industrial items, fuels and minerals, and agricultural, forestry and fishery products are expected to respectively stand at 55 percent, 37 percent and 8 percent in 2010, and 63 percent, 29.5 percent and 7.5 percent in 2015.

For imports, the country is set to import mostly semi-processed agricultural, forestry and fishery products from Cambodia.

Vietnam needs to expand trade with Cambodia at border areas, and give priorities to trade activities through land border gates, said the department.

Trade between Vietnam and Cambodia reached 940 million dollars in 2006, posting year-on-year rise of 35.6 percent, said the department.

Source: Xinhua