Latest news with #Cambodia-ChinaFreeTradeAgreement
The Star
11-05-2025
- Business
- The Star
Cambodia's export up 14% during January-April period
Women sew clothes for export at a garment factory in the Phnom Penh SEZ. - STPM PHNOM PENH: Cambodia exported products worth US$9.13 billion in the first four months of 2025, a year-on-year increase of 14 per cent, said an official report released on Saturday (May 10). Main exported items included garments, footwear, travel goods, bicycles, car tires, solar panels, and potential agricultural produce such as rice, rubber, cassava, bananas, mangoes, and longans, said the report of the General Department of Customs and Excise. The top five export destinations for the South-East Asian nation are the United States, Vietnam, Japan, China, and Canada, the report added. Meanwhile, the kingdom recorded a total import of 10.36 billion dollars during the January-April period this year, a rise of 19.7 per cent year-on-year, the report said. Key imported goods included petroleum, raw materials for garment, footwear and travel goods, vehicles, machinery, electronic appliances, and consuming products, among others, it added. Ministry of Commerce's Secretary of State and Spokesperson Penn Sovicheat said the Regional Comprehensive Economic Partnership (RCEP) agreement and the Cambodia-China Free Trade Agreement (CCFTA) had injected momentum into the country's trade growth. "Both trade deals have served as a catalyst for our long-term and sustainable trade growth," he told Xinhua. "They are also a magnet to attract more foreign investors to Cambodia." - Xinhua
The Star
22-04-2025
- Business
- The Star
From poverty to prosperity - Chinese investment brings hope to Cambodian mango growers
A worker preparing mango slices for drying at the mango processing factory invested and constructed by China's Zhong Bao (Fujian) Food Science & Technology Co Ltd in Phnom Sruoch, Kampong Speu province. - Xinhua PHNOM SRUOCH, Cambodia: In Cambodia's central province of Kampong Speu, a thriving mango factory is transforming the agricultural landscape and improving the livelihoods of local farmers. At the Zhongbao (Cambodia) Food Science & Technology Co, Ltd, hundreds of tonnes of fresh mangoes are processed into dried fruit for export to markets in China. Ouyang Jianbin, general manager of the mango factory, recalled his first trip to Cambodia in 2020. Representing his company in China's Fujian Province, Ouyang needed to select a site for building a dried mango processing factory overseas. Upon his arrival in Phnom Sruoch, Kampong Speu province, Ouyang recognised the potential of the town, which has high-quality mangoes and is close to Sihanoukville, a shipping hub. However, local farmers had difficulty selling their harvests, with much of the fruit left to rot on the trees during peak season. The picturesque orchards, laden with golden mangoes, did little to alleviate the economic hardships endured by farmers. Many families lived in cramped conditions, with six to seven members sharing a 40-square-metre home. In January 2021, the Zhongbao Cambodia factory commenced operations, and Cambodian dried mangoes quickly gained popularity among Chinese consumers. The factory now spans 45,000sq m, employs 2,600 local workers, and purchases about 90,000 tonnes of fresh mango annually, producing more than 12,000 tonnes of dried mango each year. With the help of Chinese technicians, local farmers have improved their pest control measures, nearly doubling their production. Benefiting from the standards, experience, and production lines introduced by Chinese enterprises, Cambodia has established local dried mango factories over the past two years, and their mango brands have become increasingly popular. In 2024, Cambodia's fresh mango exports surpassed US$140 million, marking a 24 per cent increase from the previous year, with China being one of the key destinations. Cambodian Ministry of Commerce's Undersecretary of State and spokesman Penn Sovicheat said that Chinese enterprises investing in Cambodia have brought advanced technologies that enhance the added value of local agricultural products. Thanks to the Regional Comprehensive Economic Partnership and the Cambodia-China Free Trade Agreement, more Cambodian agricultural products are being exported to China, the official added. Zhongbao has become a well-known factory in Phnom Sruoch. Ouyang noted that many local fruit growers not only package their fresh mangoes for sale at the factory but also bring their families to work there. As the number of workers at the factory continues to grow, Ouyang looks for ways to provide convenience for their daily lives. The company has rented nearby land to build retail spaces along the street and offered low-cost leases for restaurants and grocery stores to meet the daily needs of employees. Over the years, a bustling town has emerged around the factory. The company also supports local education, providing scholarships to a nearby elementary school and subsidies for employees with children in school. Tith Sreymean has worked at Zhongbao for two years. When asked if she has tasted the dried mango she helps to make, she smiled. "Yes, I did. It's very sweet," she replied. "I like it. It has made my life full of hope." - Xinhua
