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Vietnam has notably risen to become Cambodia’s second-largest trading partner at the outset of 2024, showcasing a significant leap in bilateral trade. According to the General Department of Customs and Excise (GDCE), the exchange of goods between the two neighboring countries exceeded $670 million in January 2024 alone, marking a 41.5% increase from the previous…
Cambodia’s international trade witnessed a significant rise in January 2024, with total trade volume reaching $4.05 billion, marking a 16.7% increase from $3.47 billion recorded in the same month the previous year. This growth is detailed in a report released by the General Department of Customs and Excise on February 12, 2024. The report highlights…
Australia is setting ambitious goals to increase its trade interactions with the Association of Southeast Asian Nations (ASEAN), aiming to significantly augment its current $187 billion trade volume. This move comes as Australian leaders gear up for the upcoming ASEAN-Australia Special Summit scheduled to be held in Melbourne. The spotlight is on the potential to…
On February 7, 2024, the Ministry of Foreign Affairs and International Cooperation of Cambodia and the Federal Public Service of Foreign Affairs, Foreign Trade, and Development Cooperation of Belgium held their first-ever Bilateral Political Consultations. The session, hosted at the Cambodian Ministry, was led by His Excellency Dr. CHEM Widhya, Secretary of State of Cambodia,…
The commerce exchange between Cambodia and the other 14 nations within the Regional Comprehensive Economic Partnership (RCEP) has seen a significant upswing, with figures nearing the $30 billion mark for the year 2023, as reported by Cambodia’s Ministry of Commerce. This remarkable growth highlights the burgeoning trade dynamics within the Asia-Pacific’s largest trading bloc. In…
The trade relationship between Cambodia and Indonesia saw significant growth in 2023, as Indonesia climbed to become Cambodia’s sixth-largest trading partner. According to data from the General Department of Customs and Excise (GDCE), the trade volume between the two nations escalated to nearly $1.1 billion, reflecting an increase of almost 15% over the previous year.…
In a significant development for Cambodia’s economic sector, the Foreign Trade Bank of Cambodia (FTB) has aligned with the Asian Development Bank (ADB) through the Trade and Supply Chain Finance Program (TSCFP). This partnership, finalized on Tuesday in Phnom Penh, aims to enhance trade finance opportunities for Cambodia’s micro, small, and medium-sized enterprises (MSMEs). The…
In an upcoming meeting in Bangkok, the Prime Ministers of Cambodia and Thailand will explore avenues to enhance bilateral trade, streamline border goods transportation, and dismantle existing trade barriers. Despite a 17 percent decline in trade turnover to $3.71 billion in 2023 from $4.47 billion in 2022, Thailand remains Cambodia’s second-largest trading partner within ASEAN,…
In a remarkable achievement, Cambodia’s jewellery exports reached an impressive $851 million in 2023, marking a remarkable 261% increase compared to the previous year, according to the Ministry of Commerce. This surge in export value was celebrated during a press conference on January 22, announcing the 15th Cambodia International Jewellery and Gems Exhibition scheduled to…
China and Cambodia have a longstanding and resilient friendship that has stood the test of time, characterized by their close geographical proximity and deep-rooted diplomatic ties. In 2023, the two nations celebrated the 65th anniversary of their diplomatic relations and the “China-Cambodia Friendship Year,” coinciding with the 10th anniversary of the Belt and Road Initiative.…
In a testament to their strong economic ties, Cambodia and France achieved a bilateral trade volume of $515.21 million in the past year, contributing significantly to Europe’s total trade volume of $4.6 billion in 2023. Prime Minister Hun Manet emphasized the pivotal role of France as a development partner that has made substantial contributions to…
On January 16, representatives from approximately 50 Vietnamese enterprises and Khmer businesses with Vietnamese origins gathered in Phnom Penh to exchange their experiences in operating and investing in Cambodia while nurturing their connections. Addressing the event, Vietnamese Ambassador to Cambodia, Nguyễn Huy Tăng, expressed the embassy’s keen interest in understanding the challenges faced by businesses…
In a remarkable feat, Cambodia has witnessed an extraordinary surge in the export of non-garment manufacturing products, marking a significant diversification of its economic landscape. The latest report from the General Department of Customs and Excise reveals that in the past year, Cambodia exported non-garment manufacturing products worth $3,129 million, representing an astounding 56 percent…
