The Ministry of Commerce is poised to roll out CambodiaTrade, an e-commerce marketplace, to open new pathways for the Kingdom’s small and medium-sized enterprises (SMEs) to sell their wares to a broader audience and capture a slice of the growing global digital economy.
All members of the Eurasian Economic Union (EAEU) have voiced backing for formal talks on a Cambodia-EAEU free trade agreement (CEFTA), except for Kazakhstan, as Russia smoothens preliminary negotiations, according to a senior official at the Ministry of Commerce.
Cambodia-Vietnam trade sharply increased by 22 per cent in the first quarter of 2021 on a yearly basis, reaching a record high of $3.892 billion, despite tightened border controls over fears of spreading the Covid-19 pandemic, according to the Vietnamese embassy in Phnom Penh.
Cambodia and Kyrgyzstan are exploring the possibility of launching formal negotiations for a bilateral free trade agreement (FTA), within the framework of the Eurasian Economic Union (EAEU), among other bilateral arrangements, according to the Kyrgyz embassy in Ankara.
The Cambodia Chamber of Commerce (CCC) has renewed its support for the Japan External Trade Organisation (Jetro) in organising trade meetings between Cambodian and Japanese businesses to promote better trade cooperation between the two countries.
The value of foreign direct investment (FDI) into the Kingdom registered a slight fall in 2020 amid a much sharper contraction among non-banking sectors and uncertainty over the evolution of the Covid-19 pandemic, but inflows into the financial sector remained strong.
With the prevailing Covid-19 situation and prolonged international trade tensions, Cambodia’s growth outlook remains uncertain.
With economic uncertainty brought about by the spread of Covid-19 pandemic, the Kingdom’s 2021 business confidence index fell to 46.1 per cent from 52.9 per cent in 2019, according to the European Chamber of Commerce in Cambodia (EuroCham).
Cambodia is gathering input from all stakeholders on a wide spectrum of issues, including environmental concerns, to be incorporated in a draft framework document for negotiations on the ASEAN-Canada Free Trade Agreement.
Bangkok-based Cambodia Business Council (CBC) and the Thai Business Council in Cambodia (TBCC) have pledged to work together to attract investors from either country and boost economic diplomacy, with a strong focus on expanding bilateral goods trade and achieving the two national leaders’ long-standing plan to top the $15 billion mark.