Cambodia's economy is predicted to stay robust in the short and medium terms despite the uncertainty of preferential tariff system granted to the country by several trading partners, according to Cambodian Minister for Economy and Finance Aun Pornmoniroth.
Phnom Penh (VNA) - Cambodia's economy is predicted to stay robustin the short and medium terms despite the uncertainty of preferential tariffsystem granted to the country by several trading partners, according toCambodian Minister for Economy and Finance Aun Pornmoniroth.
Hesaid Cambodia's economy is expected to grow 7.1 percent in 2019, pushing up thenation's gross domestic product (GDP) to 27.2 billion USD. The GDP per capita isprojected to be 1,706 USD next year, a rise of 9.1 percent from the 2018 figure.
The Southeast Asian country's economy has mainly been driven by garmentexports, construction and real estate, tourism and agriculture.
Theindustrial sector, mainly garment and construction, is predicted to grow by 10percent in 2019, while the service sector, mainly tourism, transport, telecom,trade and real estate, is expected to increase by 7 percent, and agricultureare projected to rise by 1.8 percent.
Pornmonirothsaid the uncertainty of the preferential tariff system some trading partnershave provided for Cambodia could pose a downside risk to the growth.
InOctober, the European Union (EU) announced that Cambodia could lose its specialtrade access to European markets under the Everything But Arms (EBA) preferentialtrade scheme after it conducts a six-month review of the country's duty-freestatus.
The EU is a major trading partner of Cambodia, especially in the textile andfootwear sectors. As a Least Developed Country, Cambodia has, for decades, exportedall products, except arms and ammunition, to European markets with duty-free.
KenLoo, Secretary General of the Garment Manufacturers Association in Cambodia, saidover 46 percent of Cambodia's total apparel and footwear exports is to the EU.
The kingdom's export to the bloc was valued at about 5.7 billion USD in 2017,according to EU data.-VNA
Over the past five-tear term of the National Assembly, the Cambodian People’s Party (CPP) has done a lot for the Cambodian people, helping raise public confidence in the upcoming general election.
Over the past years, the maintenance of peace, political stability and security has created favourable conditions for Cambodia to continue obtaining new achievements in socio-economic development and in the improvement of the people’s living standards.
A Vietnam – Cambodia trade-investment promotion forum took place in the Cambodian capital of Phnom Penh on September 14, gathering representatives from hundreds of businesses from both countries.
Anti-dumping duties will continue to be imposed on producers from China and Japan while those on relevant exporters from the RoK and Vietnam will be terminated, starting from June 23.
A specialist police unit has acquired a fleet of off-road vehicles to help officers navigate rough, unpaved terrain – and flood waters – to respond more quickly to public security incidents.
The pact covers goods, services, investments, intellectual property rights, customs facilitation, competition policy, sanitary and phytosanitary, trade and sustainable development, government procurement and economic cooperation.
The talent programmes mark another milestone in the technical partnership between PETRONAS and the Energy Institute, which focuses on three pillars: promoting decarbonisation and operational excellence through innovative solutions, enabling informed decision-making with expert advice, and nurturing the next generation of energy professionals.
The firefighters found an active blaze at the lorry depot located in the city of Pasir Gudang near the state capital of Johor Bahru, with flames spreading quickly due to strong winds and igniting a neighboring disused oil storage area.
Investigators believe the operation is part of a broader scam network involving romance scams, where victims are lured into fake relationships and persuaded to transfer money.
Ambassadors, Consuls General, along with staff and their families, joined traditional sports and cultural activities of Southeast Asia and performances bearing regional identity, thus contributing to strengthening unity and the ASEAN community spirit in New York.
In his post on social media the same day, Hun Manet said energy companies would be able to import sufficiently from other sources to meet domestic fuel and gas demands in the country.
The forum, which involves global experts and creative leaders from across 14 cultural sectors, aims to expand Thailand’s presence on the world stage through innovation and cultural exchange.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
A rice store in Phnom Penh (Source AFP/VNA)
