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Cambodia - Latest News/Current Events, Economic Overview & Trade Relations

AEI | Quick Facts about Cambodia

Official Name Kingdom of Cambodia
Capital Phnom Penh
Location Southeastern Asia, bordering the Gulf of Thailand, between Thailand, Vietnam, and Laos
Area total: 181,040 sq km land: 176,520 sq km water: 4,520 sq km
Climate tropical; rainy, monsoon season (May to November); dry season (December to April); little seasonal temperature variation
Terrain mostly low, flat plains; mountains in southwest and north
Cambodia
Cambodia

Cambodia Opposition Calls For Tariffs As Economic Crisis Mounts

Cambodia's opposition lawmakers are calling on the government to increase trade barriers and boost agricultural subsidies to cushion the impact of the global economic slowdown on the country's farmers.

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Cambodia

Cambodia To Set Up Own Standards System Soon

Cambodia is set to establish its own standards system that will match the International Organisation for Standardisation (ISO).

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Cambodia

Cambodian Stock Exchange Deal Signed

The Cambodian government signed an agreement to set up the country's first stock market yesterday with the Korea Exchange (KRX).

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Cambodia

Cambodia Special Economic Zone Growth Slows

The global financial crisis has slowed down the development of Cambodia's special economic zone (SEZ).

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Cambodia

Cambodia Textile Imports Reach $1B

According to the Garment Manufacturers Association of Cambodia, Cambodia's garment industry imported $1 billion in raw materials last year.

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Cambodia

Cambodia: Vietnam Border Trade Up

The border provinces of Cambodia and Vietnam accounted for over $1.1 billion of the $1.6 billion total two-way trade between the two countries in 2008. Border trade has been on the rise since the signing of a bilateral memorandum of understanding on…

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Trade Agreements

ASEAN - China Free Trade Area

The ASEAN - China Free Trade Agreement will apply in an area involving 1.7 billion consumers, making it the world's largest trading area. The agreement currently establishes a zero-tariff market. The agreement now contains trade in goods, services and dispute settlement. Investment is still under negotiation.

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ASEAN - Korea Free Trade Area

Under the ASEAN- Korea Free Trade Agreement, Korean businesses will gain access to the ASEAN market, which contains nearly 500 million people. The agreement contains trade in goods and tariffs will be either eliminated or reduced on Korean products. http://www.aseansec.org/18063.htm

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ASEAN Free Trade Area

Initiated in 1992, ASEAN Free Trade Area (AFTA) main mechanism used to reduce tariffs in ASEAN. It originally contained six members (Brunei, Indonesia, Malaysia, Philippines, Singapore and Thailand) the other four members (Vietnam -1995, Laos -1997, Myanmar-1997 and Cambodia-1999) joined after the original agreement was signed. In order to join ASEAN, they had to agree to AFTA. The overall objective of AFTA is to encourage more foreign investment to ASEAN and establish ASEAN as a world competitor by eliminating both tariff and non-tariff barriers within ASEAN. Over the next 15 years, ASEAN agreed to reduce tariffs 0-5%. http://www.aseansec.org/19346.htm

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Trade and Investment Framework Arrangement between the United States of America and the Association of Southeast Asian Nations

The Enhanced partnership between ASEAN and the United States will increase cooperation and understanding in the areas of politics, economics and safety.  EAI, Enterprise ASEAN Initiative, will strengthen economic cooperation and will allow and increase of trade and investment between both parties.  Both sides have also vowed to work together on various projects in the development arena including, fighting infectious disease and disaster relief. http://www.ustr.gov/assets/Trade_Agreements/TIFA/asset_upload_file932_9760.pdf

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Trade Organizations

ASEAN Plus 3

Forum as a coordinator of cooperation between ASEAN and China, Japan and South Korea.

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Asia Cooperation Dialogue (ACD)

The Asia Cooperation Dialogue (ACD) is an International Organization to promote Asian cooperation at a continental level, helping to integrate the previously separate regional organizations of political or economical cooperation such as ASEAN, SAARC

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Association of Southeast Asian Nations (ASEAN)

Association of Southeast Asian Nations, commonly referred to as ASEAN, is a geo-political and economic organization of 10 countries located in Southeast Asia, which was formed on August 8, 1967 by Indonesia, Malaysia, the Philippines, Singapore and Thailand. Its aims include the acceleration of economic growth, social progress, cultural development among its members, and the promotion of regional peace.

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Ayeywady-Chao Phraya-Mekong Economic Strategy

The Ayeywady-Chao Phraya-Mekong Economic Strategy (ACMECS)was formed as a political, economic and cultural organization. The ACMECS places an emphasis on using self help and partnership to achieve sustainable development, including poverrty reduction, in line with the UN Millennium Development Goals.

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East Asia Summit (EAS)

The East Asia Summit (EAS) is a Pan-Asia forum of 16 countries in East Asia, with ASEAN in a leadership position.

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