logo
Cambodia's trade with Asean rises to US$7.2bil in January-May

Cambodia's trade with Asean rises to US$7.2bil in January-May

The Star4 hours ago

Workers sewing garments for export at a factory in Phnom Penh. - STPM
PHNOM PENH: Cambodia's trade volume with its fellow Asean member states reached US$7.2 billion in the first five months of 2025, up 5.5 per cent over the same period last year, a report said on Monday (June 16).
The country exported products worth $2.7 billion to other Asean countries during the January-May period this year, up 10 per cent year-on-year, while its total import amounted to $4.5 billion dollars, up 3 per cent, said the report compiled by the Ministry of Commerce.
Cambodia's trade volume with the Asean accounted for 28.2 per cent of the country's total trade volume in the cited period, the report said.
Cambodia's top five trading partners in Asean were Vietnam, Thailand, Indonesia, Singapore, and Malaysia, the report added.
Asean comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.
Cambodian Prime Minister Hun Manet said at a recent Cambodia-Asean business summit that Asean has established itself as a beacon of stability and prosperity, with immense potential highlighted by its status as the world's fifth-largest economy.
He added that the Regional Comprehensive Economic Partnership (RCEP) agreement has further solidified Asean's unwavering commitment to deepen regional integration and foster mutually beneficial economic and trade relations. - Xinhua

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Malaysia advances 11 spots to 23rd in WCR 2025
Malaysia advances 11 spots to 23rd in WCR 2025

Malaysia Sun

timean hour ago

  • Malaysia Sun

Malaysia advances 11 spots to 23rd in WCR 2025

KUALA LUMPUR, June 17 (Xinhua) -- Malaysia has advanced 11 spots in the World Competitiveness Ranking (WCR) 2025, to 23rd among 69 economies, up from 34th placing last year. The Ministry of Investment, Trade and Industry (MITI) of Malaysia said in a statement on Tuesday that this ranking is the country's best since 2020, reflecting the progressive momentum in Malaysia's economic recovery and reform agenda, and reaffirming its trajectory towards becoming one of the world's top 12 most competitive economies by 2033, as targeted under the Madani Economy framework. It noted that economic performance, government efficiency, and business efficiency factors drove Malaysia's overall competitiveness performance. Malaysia ranked 4th globally in economic performance, improving 4 spots from 8th place last year. Both government efficiency and business efficiency factors improved by 8 positions. Meanwhile, the international trade sub-factor increases 11 places to 6th, supported by strong export growth in goods and services, diversified markets, and rising tourism receipts, strengthening Malaysia's trade surplus. "Malaysia's move up the rankings by 11 positions to 23rd from 34th last year reflects how bureaucracy-related reforms are closely intertwined with facilitating robust investment and industrial growth, both critical for enhancing Malaysia's attractiveness as a preferred investment destination," MITI Minister Zafrul Aziz said. He added that the government's whole-of-government approach under the Madani framework also demonstrates its commitment to holistic structural reforms. The WCR is published annually by the Institute for Management Development based in Switzerland. It is a comprehensive report that evaluates countries based on their ability to create and maintain a business-friendly environment that fosters long-term prosperity.

Malaysian central bank launches digital asset innovation hub
Malaysian central bank launches digital asset innovation hub

Malaysia Sun

timean hour ago

  • Malaysia Sun

Malaysian central bank launches digital asset innovation hub

Xinhua 17 Jun 2025, 17:45 GMT+10 KUALA LUMPUR, June 17 (Xinhua) -- The Malaysian central bank on Tuesday launched the Digital Asset Innovation Hub to stimulate financial innovation in a controlled environment for applicants to test new ideas and provide input to fine-tune regulatory and security frameworks. Bank Negara Malaysia (BNM) said that this is to support the development of digital assets and the application of leading financial technology in Malaysia. Malaysia's Prime Minister Anwar Ibrahim said in his keynote speech that the hub is a testament to Malaysia's commitment to ensure policy evolves alongside innovation. "The hub will serve as a catalyst for progress, enabling innovators to test use cases such as programmable payments, ringgit-backed stable coins and supply chain financing; unlocking new efficiencies across the financial system and the broader economy," he said.

Chubb Life Hong Kong Launches Chubb 1792 Club, a Prestigious Global Wealth Centre Designed to Elevate Customer Experience
Chubb Life Hong Kong Launches Chubb 1792 Club, a Prestigious Global Wealth Centre Designed to Elevate Customer Experience

The Sun

timean hour ago

  • The Sun

Chubb Life Hong Kong Launches Chubb 1792 Club, a Prestigious Global Wealth Centre Designed to Elevate Customer Experience

HONG KONG SAR - Media OutReach Newswire - 16 June 2025 - Chubb Life Hong Kong (Chubb Life HK) today unveiled its first wealth centre, Chubb 1792 Club, marking a pivotal moment in its insurance and wealth management journey. Located at The Gateway in Tsim Sha Tsui, a premier business and tourism district in Hong Kong, Chubb 1792 Club aims to serve the increasing health and wealth needs of affluent customers and high-net-worth individuals in Hong Kong and visitors to the city. The launch of Chubb 1792 Club marks a key milestone for Chubb Life HK as the city cements its position as a global insurance and wealth management powerhouse, attracting affluent and high-net-worth customers with a wide range of innovative insurance and financial offerings. By the end of 2023, the asset and wealth management sector in Hong Kong reached HK$31.2 trillion (US$3.97 trillion), with 64% of them sourced from non-Hong Kong residents. The growth trend is particularly evident in the life insurance sector, which saw record-breaking sales in 2024 as both local residents and mainland Chinese visitors sought protection and wealth management solutions. Notably, mainland Chinese visitors spent HK$62.8 billion(US$8 billion) in 2024, mainly on life, critical illness and medical policies— a 6.5% increase from the previous year. Spanning nearly 10,000 square feet, Chubb 1792 Club is thoughtfully designed to encourage meaningful engagement through art. With a longstanding history of safeguarding possessions, lives, and heritage through comprehensive insurance solutions, Chubb Life HK is committed to preserving the enduring value of what matters most. Chubb 1792 Club extends the company's commitment to enhancing customer experiences through a thoughtfully curated space showcasing art pieces by local and international artists. Over the past two years, the company launched a Chubb Life Art Gallery and expanded its partnership with Art Basel Hong Kong and M+ Museum as part of its ongoing effort to support the art community. Curated by ART021 Group, China's largest contemporary art fair group, Chubb 1792 Club features a selection of artworks by eight artists: Yang Yongliang, Desmond Leung Kar Hao, Stephen Wong Chun Hei, Wolfgang Tillmans, Annie Morris, Abraham Lacalle, Long Quan, and Lu Pingyuan. Belinda Au, President of Chubb Life Hong Kong and Head of North Asia, said, 'Chubb 1792 Club is an extraordinary space that embodies our commitment to offering experiences that serve the evolving needs of affluent and high-net-worth customers. We are proud to offer a unique platform that blends wealth expertise with cultural storytelling, empowering our customers, partners, and communities to build lasting legacies.' The design of the Chubb 1792 Club draws from the theme of water, symbolising vitality and connection while honouring Chubb's maritime heritage. Elements of water – the gentlest existence between heaven and earth, shapeless yet shaping all things, silent yet telling countless stories flows through the space, presenting a narrative about water, life, and protection. Fluid architectural forms echo the ebb and flows of the sea, while nautical design cues such as structural curvature reinforce a seamless connection to the brand's maritime legacy.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store