8 French Companies Visit Cambodia to Seek Water Investment Opportunity in Cambodia

            According to press release of French Embassy and UBIFRANCE issued on 31 October, a delegation of 8 world-ranked French companies, Altereo, Dedietrich, Hemera, Perrier Sorem, Sappel, Sce, Veolia Water and Vinci Construction, is on the visit to Cambodia from 01 to 02 November to look for new business opportunities in water sector. Those companies are known to be world ranked companies specializing in the implementation and management of systems for water distribution and sanitation plus producing equipments for water treatment. (Rasmei Kam.)

Brunei Requests for Direct Flight to Siem Reap

During yesterday’s meeting with DPM Sok An, newly appointed Bruneian ambassador Shaikh Fadilah Shaikh Ahmad requested for direct flight from Brunei to Cambodia’s Siem Reap to further increase tourism relations with Cambodia. In response, DPM Sok An welcomed the direct flight and informed the Ambassador of Cambodia’s tourism. (Rasmei Kam.)

Meeting Between Chinese Deputy Minister of Foreign Affairs and Cambodia Focuses on Cooperation and Inspection on Strategic Partnership

Chinese Deputy Minister of Foreign Affairs Fu Ying yesterday met with DPM Hor Namhong by stressing cooperation between the two countries. Additionally, both parties discussed about activity plan for inspection on issue concerning comprehensive strategic partnership and planned to create a deputy-minister-level joint committee of both countries in order to draft a strategic plan. Fu Ying further informed that there would be an official visit of a member of Chinese state council to Cambodia in late November to broaden cooperation between both nations. Regarding South China Sea issue, both sides agreed to try their best to ensure full and effective implementation of Declaration on the Conduct of Parties and to avoid confrontation in the issue. (Rasmei Kam.)

Japan Interested in Investment in Cambodia’s Natural Resources

            Japan Farm Products Co., Ltd (JFP), the company investing in agriculture in Japan, has expressed its investment interests in Cambodia’s natural resources and planned to invest, in partnership with Cambodia’s Happy Farm (HPF), in agricultural product in Cambodia. On 29 October 2012, Mr. Hi Vireak, Director of HPF and Mr. Imahashi Tetsushi Ako, Director of JFP signed MoU on cooperation for strengthening natural and Japan-based standard agricultural quality in Phnom Penh. (Kampuchea Thmey, 31 October 2012)

Hong Kong Seeks Cambodia’s Support for Its Participation in ACFTA

            On 30 October, Hong Kong Secretary for Economic Development and Trade Gregory So met with commerce Minister Cham Prasidh to lobby support for its request for accession to the ASEAN – China Free Trade (ACFTA). Cham Prasidh expressed his welcome and said that the Hong Kong' s request for accession to the ACFTA is very important, but there are some complications relevant to legal frameworks and conditions because Hong Kong is in China, and China has already had a Free Trade Agreement with ASEAN. As the chair of ASEAN, Cambodia will act as a neutral mediator to seek win-win solutions for all, Minister Cham highlighted, advising Hong Kong to set up an expert team in order to initiate talks in the framework of ASEAN+2 (ASEAN+China and Hong Kong) on that matter. Based on CDC, as of this first semester, Hong Kong investment capital in Cambodia was totaled around US$36.8 M. (Rasmei Kam, 01 November 2012)

Trade between Cambodia and EU Worth US$882 M

            As of 2012’s first semester, trade volume between Cambodia and countries in EU reached roughly US$882 M, said a report on Asia-EU Trade Volume announced on 29 October, indicating that Cambodia’s export to EU was US$766 M while the import was just 116 M, making the country ranked 7^th in EU trade list if compared to ASEAN countries and its trade volume is above Brunei, Laos and Burma whose trade volume with EU almost reached US$800 M, 169 M and 161 M respectively. The biggest partner of EU amongst ASEAN countries is Singapore which had trade volume up to US$26 Billion followed by Malaysia, Thailand, Indonesia, Vietnam and the Philippines. (Rasmei Kam, 01 November 2012)