Cambodia’s Trade Volume Up 28 Percent in the First 2 Months of This Year

Cambodia’s Trade Volume Up 28 Percent in the First 2 Months of This Year

Daily Update from Local Newspapers

March 25, 2013

 

Phnom Penh: According to the Ministry of Commerce, Cambodia’s import and export trade volume had amounted to 2.7 billion USD in the first two months of this year, up 28% compared to the 2.1 billion USD in the same period last year. From January to February this year, the country had imported goods in the total value of 1.58 billion USD, up 37%. At the meantime, it had exported items in equivalent to 1.13 billion USD, up 18%.

The Cambodia’s main imported products are garment and textile raw materials, petroleum, construction materials, automobiles and motorcycles, consuming items, food and soft drinks, pharmaceutical products and cosmetics, while it exported garments and footwear, rubber latex, milled rice, corn and cassava. Besides, Cambodia’s main foreign trading partners are the United States, European countries, China, South Korea, Japan, Thailand, Vietnam, and Malaysia. Last year, the country’s total trade volume was 13.63 billion USD, up 19%, according to the Commerce Ministry. (Rasmei Kampuchea 23 March)

Vietnam Pledges to Boost Cambodia-Vietnam Bilateral Trade to 5 Billion USD

Phnom Penh: The Investment and Trade Promotion Centre of Ho Chi Minh City assured that Vietnam will boost the bilateral trade with Cambodia jumping to 5 billion USD by 2015. Indeed, the bilateral trade relations between Cambodia and Vietnam have already been reached to 3.2 billion USD, yet Vietnam will boost to 5 billion USD by 2015.

In order to reach this goal, Vietnam will organize the 4 days trade exhibition from 3^rd to 7^th April in Phnom Penh. Actually, the bilateral trade between Cambodia and Vietnam has been increased from 1.83 to 2.8 billion USD in 2011 and 3.3 billion USD in 2012. Furthermore, Vietnam assured that Cambodia is the second largest trading partner of Vietnam. Besides the trading partner, Vietnam is also the major investment partner of Cambodia. At the end of last year, Vietnam committed to have approximately 104 investment projects in Cambodia which approximately worth 2.42 billion USD. (Rasmei Kampuchea)

France Provides a Loan of 42 Million USD for Irrigation and Water Factory

Phnom Penh:  According to Ministry of Economy and Finance, France has provided a loan of 34 million Euros or approximately 42.2 million USD to Cambodia. On 11 March 2013, Deputy Prime Minister and Minister of Economy and Finance H.E. Keat Chhon has agreed to sign a grant aid agreement with Mr. Do Sera, director-general of French Development Agency (FDA) and H.E. Mr. Serge Mostura, the French Ambassador to Cambodia. According to the press release of Ministry of Economy and Finance, France will provide a loan of 34 million Euros or approximately 42.2 million USD to support water resource management, irrigation infrastructure investment, and the construction of the second part of a water treatment plant in Phnom Penh. 

According to the press release of the French Embassy and FDA, a grant of 4 million Euros which equal to 5.2 million UD, will be used to strengthen the state and non-state actors involved in the management of water and together with the Asian Development Bank continue the rehabilitation works about 40 irrigation schemes. The rest is a loan of 30 million Euros, which will be used to construct the second part of Niroth’s water treatment plant, located in the southeastern part of Phnom Penh. In addition, FDA will also provide 2.7 million Euros which equal to 3.5 million USD to support the Institut Pasteur in Cambodia, Laos and Vietnam for medical research on diseases in Southeast Asia, it added. (Rasmei Kampuchea)