China Trade With Cambodia Set to Increase to 5 Billion
The Cambodian government are planning to boost their bilateral trade with China to $5 billion by 2017, up from 3.5 billion in the previous year, as the Kingdom looks to increase trade contracts and exports of local food products.
At a business matchmaking event organised by the Ministry of Commerce and Cambodia International Chamber of Commerce, Chhuon Dara, secretary of state at the Commerce Ministry, said that locally made goods could be highly competitive in the Chinese market, despite certain products needing to meet Chinese requirements.
“Owners of the companies, whose products are still not qualified to be exported, should try to additionally research, develop its products for better quality in order to enter international market,” said Dara.
Several product manufacturers were unaware of the standards required by Chinese distributors.
Leang Bibi, sales manager at coffee exporter Three Corner Coffee Roasters, said an open and transparent discussion with his Chinese counterparts would better enable him to gauge the Chinese market.
“We’ve heard the speeches, but I want to know more about the details of exports,” Bibi said.
With more investors coming to invest in Phnom Penh, the demand for housing will surge, especially demand for high end residential development. The Peak – a luxury development by Oxley, integrated with world renowned Shangri-la hotel is expected to draw investors’ attention.