Cambodia’s Trade Volume with Partner Countries Reaches US$ 10.47 Thousand Million

Cambodia’s Trade Volume with Partner Countries Reaches US$ 10.47 Thousand Million

            Cambodia’s trade volume in 11-month period of 2011 has increased by US$10. 47 thousand million equal to 41% increase while that in the same period of 2010 was just 7.42 thousand million, according to the Ministry of Commerce on 26 December. Cambodia’s import, in the 11-month period of 2011, is worth 5.97 thousand million (increase from 4.27 thousand million) while the export to the international market is just 4.5 thousand million (42.8% increase) within which the exports of garment products, rubber and rice are worth 3.94 thousand million, 182 million and 87 million respectively. (Rasmei Kam.)

Challenges of East Asia’s Economic Growth due to Europe Debt Crisis

On 06 December 2011, Asian Development Bank has trimmed its 2012 growth forecast for emerging East Asian economies including China, as the euro zone crisis threatens to further slow an already weakening global economy. The Manila-based ADB cuts its gross domestic product (GDP) forecast to 7.2 % for the 10 ASEAN member countries plus China, Hong Kong, South Korea and Taiwan from 7.5 % in September.  It also mapped out an "extreme scenario" of European and US meltdowns, which could shave 1.2% off growth next year in East Asia including Japan, from a forecast 5.4% to 4.2%. (Rasmei Kam.)

IMF: Cambodian Economic Growth to Reach 7.5 Percent in 2011

According to Mr. Olaf Unteroberdoester in charge of IMF Asia Pacific Department, Cambodia’s economic growth this year would reach 7.5 percent regardless of the flooding impacts. IMF also projected Cambodia’s 2012 economic growth at 7 to 8 percent. (Rasmei Kam.)

Ministries of Foreign Affairs of Cambodia and Philippines Conducts the First Meeting to Boost Investors

The first Cambodia-Philippines Joint Commission Meeting chaired by H.E. Ung Sean, Secretary of State at the Ministry of Foreign Affairs and International Cooperation and visiting Ms. Erlinda F. Basilio, Philippines Foreign Affairs Undersecretary for policy, was held yesterday in order to discuss and exchange friendship perspectives and sign an agreement on the result of the first Cambodia-Philippines Joint Commission. Both countries pledged to further promote their cooperation in the fields of trade, education, tourism, agriculture and aviation, as well as in combating cross border crimes and protecting labor rights. (Rasmei Kam.)