Cambodian International Trade News

[Angkorian123]

Agriculture exports to fuel China trade goal.

The Kingdom aimed to increase exports to China in a bid to push bilateral trade to US$2.5 billion in 2012, Minister of Commerce Cham Prasidh said.

The minister signed an agreement with the China Council for the Promotion of International Trade, led by Chairman Wan Jifei, on increasing trade cooperation in Phnom Penh
yesterday.

Speaking at the ceremony, Cham Prasidh said Cambodia intended to increase its exports of agricultural products such as rice and rubber to the People’s Republic. “We can achieve this goal [of $2.5 billion in trade] if you allow us to export more products [to] China,” he said.

Officials said yesterday the two nations had traded total goods worth less than $2 billion in 2010.

Wan Jifei, who is also President of the China Chamber of International Commerce, said he urged Cambodia to increase agriculture exports to China, but added shipping via buyers in third countries often resulted in higher prices.

“To deal with the problem, we should encourage Chinese companies to contract directly with Cambodian companies for imports,” he said
He said he was impressed by Cambodia’s economic opportunities, but highlighted two main concerns – high electricity costs and a lack of infrastructure.

Cham Prasidh said the Kingdom will receive more power from hydroelectricity by 2012 or 2013, which will lower prices. Infrastructure was also improving, with planned completions of the Singapore-Kunmin rail link likely to boost Cambodia’s trade with China.
He also highlighted Cambodia’s cheap labour costs and duty free access into many markets worldwide, including the European Union.

The Chinese delegation had also met with Prime Minister Hun Sen earlier yesterday.

Eang Sophalleth, advisor to the Prime Minister, told reporters that China was the largest investor in Cambodia.

The Prime Minister had said China’s investments were in hydropower dams, mineral resource exploration, irrigation, and the garment industry, according to Eang Sophalleth.

“These investment projects are very vital for sustainable and long-term development of Cambodian economy,” Hun Sen had told the Chinese delegation at the meeting.

Council for the Development of Cambodia figures showed China was the largest investor in Cambodia, accounting for a cumulative US$8 billion by the end of 2010.

http://www.phnompenhpost.com/index.p...rade-goal.html

I don't get why we need to ship our products to countries like Vietnam before it reaches China??? What is the point?

[mrfusion]

Don't know if the increase in hydro power generated is enough to keep up with increase in demand, if not, the price of electricicity will not decrease.

[Angkorian123]

Originally Posted by mrfusion

Don't know if the increase in hydro power generated is enough to keep up with increase in demand, if not, the price of electricicity will not decrease.

whatever the case might be.They should focus on developing better infrstrcuture in order to trade directly with foreign countries like China.

[mrfusion]

Doesn't Cambodia already trade directly with China?

[Angkorian123]

Originally Posted by mrfusion

Doesn't Cambodia already trade directly with China?

Not really! Most of the products are ship to Vietnam before it makes it to China! I don't wanna get into details because there are very sensative/Extreme people on here! But you get what I mean!

[mrfusion]

Originally Posted by Angkorian123

Not really! Most of the products are ship to Vietnam before it makes it to China! I don't wanna get into details because there are very sensative/Extreme people on here! But you get what I mean!

I would imagine shipping containers go pass Singapore or Vietnam, but it doesn't involved a middle man in Vietnam, so is very much still direct. But of course, I could be wrong.

[Angkorian123]

Originally Posted by mrfusion

I would imagine shipping containers go pass Singapore or Vietnam, but it doesn't involved a middle man in Vietnam, so is very much still direct. But of course, I could be wrong.

That is why I think China should have more influence in cambodia as much as possible! I don't want to go into detail because you know what i mean! The more I hear about China coming to Cambodia the happier i get!

[AsianDragons]

I know shipments go pass Hong Kong to china, sinagapore to aus/ europe and vietnam/Hong Kong to Vietnam, because not about the middleman but about the size od the ships, shipd from cambodia are to small and denied access to larger ports so shipping to vietnam is likely then to china.

[Angkorian123]

Originally Posted by AsianDragons

I know shipments go pass Hong Kong to china, sinagapore to aus/ europe and vietnam/Hong Kong to Vietnam, because not about the middleman but about the size od the ships, shipd from cambodia are to small and denied access to larger ports so shipping to vietnam is likely then to china.

^Then we will need to get bigger ships from China!

[mrfusion]

Originally Posted by Angkorian123

^Then we will need to get bigger ships from China!

We need deep water ports, it is very expensive to build. And we don't have enought containers to justify the large ship to port here.

Anyway, the cost to sent container to Cambodia via Singapore/HK port doesn't cost a lot more, so allow large ship in (assume they operator even want to waste time porting here) doesn't benefit anyone.

[Angkorian123]

Originally Posted by mrfusion

We need deep water ports, it is very expensive to build. And we don't have enought containers to justify the large ship to port here.

Anyway, the cost to sent container to Cambodia via Singapore/HK port doesn't cost a lot more, so allow large ship in (assume they operator even want to waste time porting here) doesn't benefit anyone.

Then I guess were stuck! We will have to rely on neigboring countries forever lolz!

[mrfusion]

Originally Posted by Angkorian123

Then I guess were stuck! We will have to rely on neigboring countries forever lolz!

We are not stuck, I think we are doing well without one. At least for now.

When the times is righe, private company will build more ports. There is nothing to worry about.

[CambodiaBMSsystem]

pls dint rely much on another country for shipping material. if they have problem, sure we will get it as well

[mrfusion]

what shipping material?

[AsianDragons]

Trade with Malaysia soars .

Thursday, 14 July 2011 15:01 May Kunmakara

TRADE between Cambodia and Malaysia soared 75 percent year-on-year for the first four months of 2011, largely because of the ASEAN Free Trade Agreement, officials said yesterday.

Total trade volume between January and April rose significantly to US$100.6 million from $57.5 million in the same period of 2010, said Pan Sorasak, secretary of state at the Ministry of Commerce.

Cambodia and Malaysia have enjoyed a “longstanding and healthy” bilateral relationship, he added while speaking at the second Malaysia Solo Fair in Phnom Penh on Wednesday.

“I believe that, as ASEAN members, Cambodia and Malaysia will continue to pursue active trade by utilizing the ASEAN Free Trade Agreement as a tool for trade development. And Cambodia expects to see stronger trade growth with Malaysia this year,” he said at the trade event.

Datuk pengiran Hj.Mohd Hussein bin Datuk Pg Hj.Mohd Tahir Nasruddin, Malaysia’s ambassador to Cambodia, called on Malaysia’s investment and business community to take advantage of the growing Cambodian market.

“I therefore urge the businessmen present here today, to be responsive and leverage the provisions of AFTA and other bilateral agreements between Cambodia and Malaysia,” he said. “We must continue to work for improved trade relations. Now is the time to mobilise our resources collectively for the economic development of ASEAN as a whole.” He said Cambodia and Malaysia have “an important and responsible role to play” in setting an example to other ASEAN members to follow.

Cambodia’s exports to Malaysia for the first four months of the year reached $18.6 million, a nearly five-fold increase from $3.2 million year-on-year.

At the same time, Cambodia imported $82 million worth of goods from Malaysia during the period, a rise of 54 percent year-on-year.

Trade between the two countries usually involves Cambodian exports of crude rubber, textiles and clothing and palm oil, while Malaysia exports processed foods, chemical products and electronics, among other items.

In 2010, bilateral trade between Cambodia and Malaysia reached $229.7 million.

According to the Council for the Development of Cambodia, approved investment from Malaysia in 2010 was $167 million, making it the third biggest foreign investor in the Kingdom .

http://www.phnompenhpost.com/index.p...sia-soars.html

[AsianDragons]

Cambodia’s Vietnam trade increasing .

Friday, 22 July 2011 15:01 May Kunmakara ..




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CAMBODIAN goods are gaining significant traction in Vietnam, as prices for Vietnamese products rapidly increase.

The Kingdom’s exports to its eastern neighbour increased more than 84 percent in the first half of 2011, totalling US$247 million, statistics from the Vietnam Trade Office in Phnom Penh show.

“The Vietnamese economy is facing an obstacle with a rising inflation rate this year that’s been very difficult for us,” said Vietnamese Trade Attache Tran Tu.

“However, I think the government is trying its best to tackle the issue [of rising domestic prices].”

Yesterday, Vietnam’s National Assembly Economic Committee head Ha Van Hien said it would be “very difficult” for Vietnam to slow inflation to 17 percent by the end of the year. Meanwhile, Cambodia’s Minister of Economy and Finance Keat Chhon has raised Cambodia’s 2011 inflation target this week to 5.5 percent.

Cambodia’s main exports to Vietnam are agricultural products, such as seafood, corn, tobacco, rubber and cashew nuts, said Tran Tu.

Although the inflation rate in Vietnam is high, the country’s demand for goods is still high.

“I am not quite sure how much the rise of inflation has impacted demand in both markets, as I see bilateral trade keeps increasing,” he said.

Tran Tu also said the two countries are on track to achieve $2 billion in bilateral trade this year.

The figures also show Vietnamese exports to Cambodia increased 56.72 percent in the first six months, totalling $1.351 billion.

Vietnam pursues close economic cooperation with Cambodia, including numerous investment projects, which boosted the figures, said Tran Tu.

“We need to import equipment and machinery for the progress of the projects,” he said. The statistics show Cambodia’s main imports from Vietnam were chemicals, garments, steel, machinery, and plastic materials.

Last month, Commerce Minister Cham Prasidh said the government aimed to increase bilateral trade by continually easing border restrictions.

http://www.phnompenhpost.com/index.p...ncreasing.html

[AsianDragons]

Bilateral trade: Imports from Thailand show decline .

Tuesday, 19 July 2011 15:00 Soeun Say ..




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THAILAND’S exports to Cambodia in the first five months decreased slightly compared to the same period last year, according to statistics obtained from the Thai Embassy’s Foreign Trade Promotion Office yesterday.

Total trade sat at US$1.175 billion during the period, a 3.5 percent increase on the $1.135 billion in the period last year, statistics show.

Thailand exported some $1.091 billion in goods to Cambodia, a decrease on $1.095 billion last year. Cambodia shipped goods worth $84.16 million the other direction in the five month period, more than double the same period last year.

Thai officials could not be reached yesterday.

http://www.phnompenhpost.com/index.p...w-decline.html

[AsianDragons]

Pyongyang trade push .

Wednesday, 27 July 2011 15:01 Vong Sokheng and Don Weinland

High-ranking North Korean officials have arrived in the Kingdom for talks to establish a robust trading relationship, particularly in agriculture.

The delegation, led by Deputy Trade Minister Ri Myong San, had met with Foreign Affairs Minister Hor Namhong yesterday to explore economic and trade co-operation for the national development of the two countries, Ministry of Foreign Affairs Secretary of State Ouch Borith said.

“This visit is to strengthen relations as well as economic and trade relat-ions, particularly in the agricultural sector. We’re not talking about politics or the military sector,” he said.

Discussion on the Joint Committee agreement signed by the two countries in 1993 would continue today at the Ministry of Foreign Affairs, Ouch Borith said, with the aim of cultivating long-dormant trade
ties.

“There are zero economic and trade exchanges between Cambodia and North Korea at the moment,” he said.

“Therefore, we will try to take this opportunity to find ways to boost co-operation for the benefit of the people and national development of the two countries.”

Cambodia and North Korea had a long history of good relations, Ouch Borith said. Former king Norodom Sihanouk maintained a close personal relationship with North Korean leader Kim Il-Sung and often travelled to North Korea for stays at a palace in the capital, Pyongyang, he said.

Observers expressed mixed opinions on the trade mission yesterday.

Ros Chantrabot, professor of politics at the Royal Academy of Cambodia, said that although agricultural export links between Cambodia and North Korea were to be encouraged, it was rare for high-ranking North Korean delegates to travel to ASEAN countries.

Ros Chantrabot said that as far as he knew, a recent visit to Myanmar was the only other occasion a delegation from Pyongyang had travelled to a member of the 10-nation ASEAN bloc.
“The visit makes us consider a lot of issues in East Asia,” he said.

Some experts, however, said North Korea needed agricultural goods, which could create an opportunity for Cambodia.

Kang Nam-shik, chairman of South Korea’s Chamber of Commerce in Cambodia, said yesterday food shortages had left North Korea in need of arable land for growing rice, corn and potatoes.

“Now the North Korean government needs to import food. They are very short of agricultural products, and are looking for land to plant on,” Kang Nam-shik said.

More than half a million North Koreans were at risk of starvation, Reuters reported earlier this month.

The European Commission announced on July 4 that it would give US$14.5 million to North Korea in famine relief.

The food aid would target children, hospital patients, the elderly and pregnant and breastfeeding women, the report said.

Renewed economic relat-ions between Cambodia and North Korea might also provide opportunities for joint agricultural ventures with both North and South Korea, Kang Nam-shik said.

The fostering of joint ventures might prove to be more productive than the traditional rice aid South Korea had sent to the North since the 1970s, he said.

Cambodia has pushed for increased agricultural exports in recent years, and Prime Minister Hun Sen has a target of exporting one million tonnes of milled rice by 2015.

Earlier this year, the Kingdom approved a US$15 million North Korean investment in Siem Reap. Mansudae Company, a construction firm, would build and operate a Cambodian culture museum near Angkor Wat, a Cambodian Ministry of Commerce official said last month. It is expected to be completed in two years.

http://www.phnompenhpost.com/index.p...rade-push.html

[starry.night]

Originally Posted by mrfusion

what shipping material?

I think he means "exporting natural & mineral resources" by that

[AsianDragons]

Korea trade keeps on climbing .

Monday, 08 August 2011 15:01 May Kunmakara ..




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CAMBODIA’S trade with South Korea grew 38 percent in the first half of 2011 on the same period last year, according to Korea Trade-Investment Promotion Agency (KORTA) statistics.

The growth is partly due to increasing numbers of South Korean importers seeking business in Cambodia, KOTRA’s Cambdia Director General Gwang-Ho Lee said.

“Korean importers are increasingly looking towards setting up export businesses involving garment manufacturing and natural rubber, seafood and agricultural products.”

About 600 Korean companies are now based in the Kingdom, he said.

Gwang-Ho Lee added that there has been a recent increase in Korean cars exports to the Kingdom in particular.

Total bilateral trade reached US$243.1 million from January to June, from $175.8 million in the same period last year, KOTRA figures show. Cambodia’s exports to South Korea increased 51 percent, hitting $34.2 million, while imports to the Kingdom rose about 37 percent to $208.9 million.

Garment materials, clothing accessories and tobacco products are among South Korea’s other main exports, while Cambodia primarily exports agricultural products, crude rubber and footwear, according to the data.

The close economic and political relationship continues to further strengthen bilateral trade between the countries, director of the Commerce Ministry's Department of Statistics and Information Kong Putheara said.

“With Korea’s economy seeing a full recovery, it is seeking out countries in the region, such as Cambodia, which has the potential for consistent growth."


http://www.phnompenhpost.com/index.p...-climbing.html