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Prime Minister Hun Manet has articulated a transformative vision for Cambodia, aiming to evolve the nation from being primarily an exporter of raw materials to an economy robust in producing semi-finished and finished goods. This progressive goal is designed to meet both domestic demands and enhance export capabilities, consequently improving the livelihoods of Cambodian citizens.…
In a meeting with over 5,000 representatives of Cambodia’s informal economy at OCIC in Phnom Penh, Prime Minister Hun Manet emphasized the importance of diversifying goods and boosting domestic production both for domestic consumption and export. During the meeting on Sunday, the premier underscored the government’s goal of not only enabling production within Cambodia but…
In an impressive economic achievement, Cambodia has reported a substantial increase in its revenue from rubber exports, totaling $317 million in the first quarter of this year. This marks an 88.6 percent rise compared to the same period last year, according to data from the General Department of Customs and Excise (GDCE). This growth underscores…
Cambodia has witnessed a notable surge in its trade activities with fellow ASEAN countries, registering an 18.64 percent increase to reach $4.32 billion in the initial quarter of this year. This development is detailed in a recent report from the Ministry of Commerce, highlighting the country’s expanding economic interactions within the region. The period from…
In a significant move to bolster economic relationships, the Ministry of Industry, Science, Technology & Innovation (MISTI) of Cambodia, and the Guangdong-Hong Kong-Macao Bay Area Entrepreneurs Alliance have inked a Memorandum of Understanding (MoU). This partnership is strategically aimed at enhancing trade, investments, and business interactions between Cambodia and the Greater Bay Area (GBA). The…
In a significant appeal for heightened focus on economic interactions, Hun Sen, the current Acting Head of State of Cambodia, has spotlighted the critical importance of trade relations between ASEAN countries and China. Describing China as a considerable marketplace not only for the region but particularly for Cambodia, his commentary underscores the need for strategic…
The Ministry of Commerce (MoC) of Cambodia, in a collaborative effort with the European Union (EU) and the German Federal Government’s agency GIZ, has made notable strides in fostering trade development that aligns with Cambodia’s ambition to enhance its economic presence both regionally and internationally. On Friday, Cham Nimul, the Minister of Commerce, oversaw the…
In a move to streamline trade processes and enhance the convenience of acquiring trade licenses and certificates, the Ministry of Commerce (MoC) of Cambodia is broadening its payment platform to include more banking partners. The initiative aims to facilitate smoother transactions for businesses engaging in import and export activities within the Kingdom. Penn Sovicheat, the…
On Wednesday, a significant gathering unfolded in Phnom Penh as over 20 Indian companies specializing in the production and trade of dyes, dye intermediates, organic and inorganic chemicals, agrochemicals, specialty chemicals, and cosmetics convened with Cambodian businesses to discuss potential collaborations. This meeting, spearheaded by the Basic Chemicals, Cosmetics & Dyes Export Promotion Council (Chemexcil),…
In the first two months of the current year, Cambodia has seen a notable increase in its international trade activities, with a total trade volume of $8.12 billion, marking a 19.2 percent rise from the previous year’s figures. This growth is characterized by a substantial 22.7 percent increase in exports, totaling $3.98 billion, and a…
In a significant stride towards strengthening economic ties, Malaysia has risen to become Cambodia’s 15th largest trade ally, as revealed by data from the General Department of Customs and Excise (GDCE). The bilateral trade between these nations witnessed a remarkable increase of over 35% in January, highlighting a thriving partnership within the ASEAN framework. The…
The Ministry of Commerce has announced its participation in the upcoming Cambodia Trade Fair, a key component of “The 8th Cambodia Festival 2024,” scheduled for May 3-4, 2024, at Yoyogi Park in Tokyo, Japan. This involvement underscores the ministry’s commitment to fostering international trade relationships and showcasing Cambodian products and services on a global stage.…
On February 20, 2024, a significant dialogue took place between His Excellency CHUM Sounry, Secretary of State of the Ministry of Foreign Affairs and International Cooperation of Cambodia, and His Excellency ALAN Bowman, Director-General for Southeast Asia and Oceania at the Department of Foreign Affairs, Trade and Development of Canada. This meeting occurred during Bowman’s…
