Japan ponders strategic partnership with Cambodia: Cambodian FM

PHNOM PENH, April 22 (Xinhua) -- Japan pledged to study towards the establishment of a strategic partnership of cooperation with Cambodia and to further enhance bilateral ties, Cambodian Deputy Prime Minister and Foreign Minister Hor Namhong said Sunday.
He said the promise was made by Japanese Prime Minister Yoshihiko Noda during a bilateral meeting with Cambodian Prime Minister Hun Sen in Tokyo, Japan while the premier attended the 4th Mekong-Japan Summit on April 20-21.
"Japan promised to carefully study to raise the level of current friendly relation with Cambodia to a new level of strategic partnership of cooperation in order to push for stronger economic and trade ties," Hor Namhong told reporters at the Phnom Penh International Airport when he accompanied Hun Sen from Tokyo.
He said Yoshihiko Noda also invited Hun Sen to make an official visit to Japan at an appropriate time in the future and Hun Sen said the visit would be made in early 2013.
Hor Namhong said that so far, Cambodia has comprehensive strategic partnership of cooperation only with China, which was established in December 2010 between Chinese Premier Wen Jiabao and Hun Sen in Beijing.
Japan is the second largest provider of grants and concessional loans to Cambodia after China. According to the Cambodian government's records, by 2011, Japan had given some 2,000 million U.S. dollars to Cambodia for infrastructure development, whilst China had provided about 2,093 million U.S. dollars to the country.

Cambodia's rubber exports up 8 percent, revenues down 25 percent in Q1

PHNOM PENH, April 21 (Xinhua) -- Cambodia has seen a 8% rise in rubber latex exports in the first quarter of 2012. However, the export value has declined by 25% due to the drop in international rubber prices.
From January to March this year, the country exported 12,800 tons of rubber latex, up 8% from 11,800 tons in the same period last year, showed the statistics from the Ministry of Commerce on Saturday.
Meanwhile, the export revenues were 41 million U.S. dollars, down 25% from 55 million U.S. dollars, it said.
The best quality rubber's price sold to international markets at 3,895 U.S. dollars a ton on Saturday, down 31% from 5, 654 U.S. dollars last year.
Cambodia's rubber latex has been exported to Malaysia, Vietnam, China and South Korea.
Currently, the country has about 213,100 hectares of rubber plantations, most of them are too young to be yielded, according to the annual reports of the Agriculture Ministry released early this month.
According to the figure of the Commerce Ministry, the country exported 46,730 tons of rubber latex in 2011, earning the total revenues of 201 million U.S. dollars.

Cambodia imports 471,000 tons of oil in Q1

PHNOM PENH, April 21 (Xinhua) -- Cambodia has imported 471,000 tons of petroleum in the first quarter of this year, a 25.5% rise from 375,290 tons in the same period last year, showed the reports of the Commerce Ministry on Saturday.
From January to March this year, the country spent about 469 million U.S. dollars in purchasing the petroleum, up 50% from 312.5 million U.S. dollars in the same period last year, it said.
Cambodia's oil demand has significantly surged in recent years because of the growing extent of economy and the increasing number of vehicles.
In 2011, the country imported 1.46 million tons of petroleum, spending about 1.38 billion U.S. dollars. The government estimates that the demand will jump to 3 or 4 million tons a year in coming years.
Currently, this Southeast Asian nation has totally purchased petroleum from Vietnam, Singapore and Thailand as its seabed's oil and gas have not been exploited.

Cambodia's first-ever stock starts trading at local bourse

PHNOM PENH, April 18 (Xinhua) -- Cambodia's Securities Exchange (CSX) began trading for the first time on Wednesday with one listed company, the state-owned Phnom Penh Water Supply Authority (PPWSA).

The stock trading marked the first-ever in Cambodia's history.

In the first IPOs (Initial Public Offerings), the PPWSA sold 13 million shares, or 15 percent of the company's whole shares. The offering price per share is 1.57 U.S. dollars, Hean Sahib, the CSX 's chairman, said at the launch of the securities trading.

The launch was marked with a congratulatory message from Prime Minister Hun Sen. "The securities trading creates a historic event for Cambodia," he said in a recorded video footage and played at the launch.

"The launching of securities trading will finally end the wait from the public, national and international investors for the birth and operation of this new market," said the premier.

He said the trading operation would play a crucial role as an additional catalyst to enhance the effectiveness of the economic policies of the government, and to improve the push for an actively strong and sustainably growing economy.

The stock market will open new possibilities and opportunities in mobilizing capital and financial resources from both domestic and foreign markets for the development of the enterprises in Cambodia, he added.

"Via the stock market, it will help improve corporate governance and effectiveness of the management of the enterprises in order to ensure the confidence of the investors and the public," he said.

Yoo Jae Hoon, Standing Commissioner of South Korea's Financial Services Commission, said that the stock market would largely contribute to the development of Cambodia's economy.

"It will play a very important role in mobilizing funds for the development and expansion of enterprises," he said. "The launch also reflects closer economic cooperation between South Korea and Cambodia."

Speaking at the launch, Cambodian Deputy Prime Minister and Finance Minister Keat Chhon appealed to private companies, which are adequately qualified, to prepare themselves to list on the CSX.

"I'd like to appeal to national and international investors to participate in securities trading, and provide their support to this young, but full-of-potentials securities market," he said. "I strongly believe that a lot of companies will list on the CSX this year."

The PPWSA's price surged about 50 percent to 9,300 riel, or 2. 32 dollars, as the settlement prices for the first trading day, which wrapped up at 12 a.m. local time, with a total trading volume of 879,426 for both sessions.

The settlement price for Wednesday's first trading session is 9,400 riel, or 2.35 dollars, almost hitting the upper limit of 50 percent for the stock's opening session.According to Cambodia's trading rules, there are two trading sessions everyday. The first one starts at 8 a.m. and ends at 9 a.m. while the second one lasts from 9 a.m. to 11: 30 a.m. local time.

The CSX was initiated by the Korean Exchange in 2007. It is a joint venture between the government of Cambodia holding 55 percent of the stakes and the Korean Exchange owning the remaining 45 percent.

It was officially inaugurated in last July, but there was not any listed company at that time.

The PPWSA is one of the three state-owned to-be-listed enterprises. The two others are Sihanoukville Autonomous Port and Telecom Cambodia.

Cambodia launches campaign to fight against dengue fever

PHNOM PENH, April 19 (Xinhua) -- Cambodia on Thursday launched an awareness campaign to mark the national day against dengue fever after the country has seen a remarkable increase in the disease infection so far this year.
Dr. Char Meng Chuor, director of the National Center for Parasitology, Entomology and Malaria Control, said since the start of the year to mid-April, the country recorded 1,393 dengue fever cases, a hefty 311 percent rise from 339 cases at the same period last year.
Among the cases this year, eight children were killed, representing a 100-percent increase a year earlier, he said.
The campaign, jointly launched by the Health Ministry, Information Ministry and Education Ministry, will be conducted through schools and mass media; and about 270 tones of Abate (a chemical substance used to kill larvae in water pots) will be distributed free of charge to households.
Speaking at the launching ceremony, Health Minister Mam Bunheng called on people to sleep in mosquito nets and keep clean environment around their houses.
"Dengue fever is caused by mosquitoes. To prevent the infection, I would like to appeal to all parents, guardians and students to kill larvae by using Abate substance and by filling in puddles around houses, which are sources of mosquitoes," he said.
Dengue fever causes an acute illness of sudden onset that usually follows symptoms such as headache, fever, exhaustion, severe muscle and joint pain, swollen glands and rash.
In Cambodia, the outbreak of dengue fever usually begins at the onset of the rainy season in May and lasts until October.
Last year, the country reported 15,980 dengue fever cases, which killed 73 children.

Cambodia's foreign trade volume up 19 pct in Q1 to 3.19 bln USD

PHNOM PENH, April 19 (Xinhua) -- Cambodia's total trade volume with foreign countries had mounted to 3.19 billion U.S. dollars in the first quarter of 2012, up by 19 percent from 2.68 billion dollars in the same period a year ago, according to the statistics of the Commerce Ministry on Thursday.

From January to March this year, the country had exported products worth 1.36 billion U.S. dollars, up 20 percent from 1.13 billion dollars in the same period last year, the reports said.

The main exports include garment and textile, rubber latex, rice, and products of agriculture, forestry and fisheries.

On the import side, the country imported goods worth 1.83 billion dollars, up 18 percent from 1.55 billion dollars. The imported products included garment and textile raw materials, petroleum, construction materials, automobiles and motorcycles, food and soft drinks, pharmaceutical products and cosmetics.

Cambodia's main trading partners include the United States, European countries, China, Thailand, Vietnam, Japan, South Korea and Canada.

Cambodia's garment exports up 17 pct in Q1: gov't reports

PHNOM PENH, April 19 (Xinhua) -- Cambodia had exported garment and textile products in equivalent to 1.14 billion U.S. dollars in the first quarter of 2012, a 17 percent rise from 976 million U.S. dollars at the same period last year, according to the reports of the Commerce Ministry on Thursday.

The United States and European countries are the main buyers, and other clients are Canada, Japan, South Korea, China and some other Asian countries.

Garment industry is the country's largest income earner. The industry consists of 309 factories, employing some 335,400 worker with 91 percent being female.

Last year, the sector had exported products in equivalent to 4. 24 billion U.S. dollars, up 25 percent from a year earlier.

Cambodia's rice exports see sharp rise in Q1

PHNOM PENH, April 19 (Xinhua) -- Cambodia had exported 38,400 tons of milled rice in the first quarter of this year, a 49 percent increase from 25,800 tons it exported in the same period last year, showed the statistics of the Ministry of Commerce on Thursday.

The reports showed that from January to March this year, the country earned total revenues of 27 million U.S. dollars from the rice exports, up 80 percent from 15 million U.S. dollars a year earlier.

Preap Visarto, vice-director of the Crop Protection and Proto- Sanitary Department at the Agriculture Ministry, said Thursday that Cambodian milled rice has been exported mainly to European markets and the United States, South Korea and Japan.

"Also, early this year, a private company began its first shipment of 48 tons of milled rice to China for market testing," he said. "We hope we will be able to export more to Chinese market this year."

Cambodia is an agrarian country. More than 80 percent of the population are farmers. The country produced some 8.25 million tons of paddy rice last year. Thus it's estimated that there is around 4 million tons of paddy rice left over for exports this year.

In August 2010, the government launched the rice export promotion strategy, aiming at exporting one million tons of milled rice by 2015.

However, the country can export only a small amount of its milled rice due to the lack of sophisticated post-harvest technology and capital.

It's estimated that Cambodia needs roughly 350 million U.S. dollars' investment in hi-tech post-harvest technology to achieve its self-imposed target of one-million-ton rice exports by 2015.

Cambodia's Angkor Wat attracts 639,800 int'l visitors in Q1, up 45%

PHNOM PENH, April 20 (Xinhua) -- The number of foreign tourists to Cambodia's Angkor Wat temples, one of the world heritage sites, had increased by 45 percent to 639,800 in the first quarter of this year, showed the statistics of Siem Reap provincial tourism department on Friday.
The top three countries visiting the temples are South Korea, Vietnam and China. During the period from January to March this year, some 132,750 South Koreans, 75,088 Vietnamese, and 49,231 Chinese had visited the temples, up 67 percent, 15 percent and 54 percent respectively.
"We see that the visitors from South Korea and China are on the sharp rise," Chhoeuy Chhorn, administration chief of Siem Reap provincial tourism department, told Xinhua over telephone, adding "this thanks to the broader promotion of the temples to the world in combination with increased flights and more direct flight connection between Asian countries and Siem Reap province."
Siem Reap's Angkor archeological park is the country's largest cultural tourism destination; it is located some 315 km northwest of Phnom Penh, the capital of Cambodia.
An entrance fee to visit the temples is 20 U.S. dollars a day for a foreign visitor, 40 U.S. dollars for a three-day visit and 60 U.S. dollars for a week-long visit.
Last year, the temples attracted 1.6 million foreign visitors, an increase of 23 percent.
The tourism industry is one of the main four pillars supporting the Cambodian economy. The others are garment industry, agriculture and real estates.

UN disaster reduction chief visits Cambodia

PHNOM PENH, April 20 (Xinhua) -- Margareta Wahlstrom, the Special Representative of the United Nations Secretary General for Disaster Risk Reduction, will arrive in Cambodia on Friday night for a six-day visit to discuss ways to better protect Cambodian communities against weather related disasters.
According to a press release from the United Nations Development Program-Cambodia on Friday, during the visit, she will highlight the importance of integrating disaster risk reduction in development programs to adapt to climate change impacts.
The press release said flooding is a recurrent damaging event in Cambodia and may even be worse in the future as experts predict more severe and frequent floods and storms due to climate change impacts. It said last year, more than 247 people died and 1.64 million people were affected by flooding, 700,000 of them were children.
The floods also took an economic toll on the country, impacting more than 1 million acres of rice paddy in Kampong Thom, Battambang, and Prey Veng provinces.
The UN head of disaster risk reduction will visit Prey Veng province, where more than 40,600 households were affected by the floods in 2011. The highest number of deaths (52) occurred in Prey Veng province due to the floods and almost 50,000 hectares of rice were destroyed.
She is scheduled to meet with secretary of state at the Ministry of Foreign Affairs and International Cooperation Ouch Borith; Vice Chairman of the Cambodia National Committee for Disaster Management Nhim Vanda; Minister of Environment Mok Mareth and other government officials and development partners.
In her meetings with senior officials, she will discuss opportunities to further integrated disaster risk reduction and climate change adaptation measures in the Association of Southeast Asian Nations (ASEAN) political and economic cooperation agendas as ASEAN is currently chaired by Cambodia.
She will propose to the government of Cambodia to convene an ASEAN leader dialogue on disaster risk reduction and lead the post 2015 Hyogo Framework for Action (HFA) discussions in ASEAN and the implementation of a new Asian Disaster Management and Emergency Response (ADMER) after 2015, said the press release.

Cambodia, Vietnam telecoms jointly launch Super Highway Network

PHNOM PENH, April 20 (Xinhua) -- State-owned Telecom Cambodia ( TC) and Vietnam Telecom International (VTI) on Friday jointly launched Super Highway Telecom Network in order to improve Internet and telecom services in Cambodia and to meet customer's demands, said a joint press release.
The 260-kilometer super highway link connects VTI's POP (Point of Presence) in Phnom Penh to Ho Chi Minh City and is expandable to Asian, Europe and North American countries through international submarine cable systems such as SMW3, AAG... and cross-border land cable connections to China and Laos, said the press release.
The link can serve the consistent connection with high redundancy and restorable capacity.
It said that with initial capacity design of 10Gbps and future upgrade plan, this super highway connection will become the life- line for transmitting the traffic: voice, video, data, and Internet and all other international telecommunication services to the world.
Speaking at the launching ceremony, Cambodia's Minister of Posts and Telecommunication So Khun said that the link is also strategically important to provide customers, not only in Cambodia but also in Thailand and Myanmar, with high-speed connection, high quality and cost-effective services such as International Private Leased Circuit (IPLC), International Private Leased Circuit Transit (IPLC Transit), IP Virtual Private Network (IP VPN) and IP Transit.
"Moreover, the cooperation between TC and VTI will help to meet customer's demands with flexible service packages, high quality services and competitive prices," he said.
He said the link will improve and boost the Internet and telecom service usage in Cambodia and it will be a chance for both VTI and TC to increase number of customers, expand business activities and generate more revenue.

Cambodia's Preah Vihear temple sees 31 pct rise in tourists in Q1

PHNOM PENH, Apr 12, 2012 (Xinhua via COMTEX) -- Cambodia's Preah Vihear temple, one of the world heritage sites, had attracted some 23,070 local and foreign visitors in the first quarter this year, a 31 percent increase from the same period last year, according to the statistics from the Preah Vihear Provincial Tourism Department on Thursday.

Officials attributed the rise to eased Cambodia-Thailand border tension since the bloody clashes last year.

The statistics showed that, during the January-March period, the total visitors to the ruins included 21,000 domestic tourists and 2070 foreigners, up 29 percent and 61 percent over the same period last year, respectively.


"We observed that the Cambodian-Thai border situation has quite improved and no more military tensions, so tourists have begun visiting the temple," Kong Vibol, chief of Preah Vihear Provincial Tourism Department, told Xinhua Thursday over telephone.

He recalled that during the first quarter last year, few visitors were seen to the ruins due to deadly clashes between the two neighboring countries.

"As the border tension is calm, now we are trying to promote the temple's potential and other cultural museum and tourism sites near the temple in order to attract more visitors," he said. "We expect that, in the future, the temple will become the country's second largest tourism destination after Angkor Wat temples." Cambodia and Thailand have border conflicts just a week after the UNESCO approved Cambodia's bid to have the Preah Vihear temple named a World Heritage Site on July 07, 2008 and witnessed fierce clashes in February and April 2011.

The International Court of Justice awarded the cliff-top situated Preah Vihear temple to Cambodia on June 15, 1962, but Thailand claims the ownership of 4.6 square kilometers (1.8 square miles) of scrub next to the temple.

On April 28, 2011, Cambodia submitted a request to the ICJ for interpretation of its judgment in 1962 in the case concerning the ancient temple. It was accompanied by an urgent request for provisional measures in which Cambodia demands that Thailand immediately and unconditionally withdraw troops from the area surrounding the ruins.

During the interval of waiting for the verdict interpretation, the ICJ ordered Cambodia and Thailand on July 18, 2011 to immediately withdraw their military personnel from the Provisional Demilitarized Zone (PDZ) of about 17 kilometers on the disputed border near Preah Vihear temple and allow ASEAN observers access to the PDZ to monitor ceasefire.

However, so far, neither Cambodia nor Thailand has withdrawn its troops from the PDZ. 

Cambodian FM briefs 2012 ASEAN's priority tasks to foreign envoys

PHNOM PENH, April 12 (Xinhua) -- Cambodia convened a meeting with all foreign ambassadors and Charg d 'Affairs on Thursday in order to inform them the priority tasks Cambodia has set as the chair of 2012 ASEAN.
During the meeting, Cambodian Deputy Prime Minister and Foreign Minister Hor Namhong told the foreign diplomats that the priority tasks for ASEAN this year include the accelerating ASEAN members' integration for the target of ASEAN Community in 2015 and the intensifying the joint efforts towards an ASEAN single market and production base in the same year.
On the political and security issues, Cambodia would urge the five nuclear countries, namely the United States, the United Kingdom, China, Russia, and France, to seal the protocol on the Southeast Asian Nuclear Weapon Free Zone by this year.
Talking about South China Sea issue, the Cambodian minister said the Declaration on the Conduct of Parties in the South China Sea (DOC) was signed in Phnom Penh in 2002 by the ASEAN foreign ministers and their Chinese counterpart. ASEAN adopted the guidelines in July last year in Indonesia for the implementation the document.
"Cambodia has to push the full and effective implementation of DOC based on the guidelines in order to work towards the drafting of the Code of Conduct (COC)," Hor told the diplomats.
"China has expressed its stance already about the drafting of COC, it said it was ready to join with ASEAN to draft the COC," he said. "ASEAN should grasp this opportunity to work together."
The minister also reiterated that the issue of South China Sea will not be internationalized; it shall be settled under the framework of ASEAN-China.
"We will not push this work too fast; we have to work together step by step to build mutual trust between ASEAN and China," he said.
During the meeting, he also said that Cambodia would urge the release of the ASEAN Human Rights Declaration in 2012, expedite efforts towards Drug Free ASEAN 2015 and protect ASEAN migrant workers.
On the economic side, Hor Namhong said in order to prevent any economic crisis in the future, the ASEAN leaders agreed to double the Chiang Mai Initiative Multi-lateralization crisis fund from 120 billion U.S. dollars to 240 billion U.S. dollars.
"We have agreed to double the reserve fund among ASEAN members, but ASEAN finance ministers need to discuss with China, Japan and South Korea for their supports," he said.
In addition, the country this year would initiate the Global- ASEAN Dialogue Forum to work with the heads of states of ASEAN dialogue partners and chiefs of international institutions and organizations in order to discuss the global challenges, such as the troubled financial system, food safety, energy security, and climate change.
Those to-discuss-with organizations include the UN, the World Bank, the IMF, the Asian Development Bank, the WTO.
The Association of Southeast Asian Nations (ASEAN) groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

Cambodia to join peacekeeping mission in South Sudan soon

PHNOM PENH, April 11 (Xinhua) -- Cambodian military police and military medics will leave Cambodia on April 16 on a peacekeeping mission in South Sudan, the United Nations Development Program- Cambodia said in a press release on Wednesday.
They are among the 153 peacekeepers Cambodia will send to South Sudan this year. To date, 839 Cambodian troops have completed peacekeeping missions, and 222 are currently on mission, said the press release.
Speaking at the ceremony, UN Resident Coordinator Douglas Broderick thanked the peacekeepers and applauded the Royal Cambodian Armed Forces Peacekeeping Teams for continuing Cambodia' s legacy of contributing to global peacekeeping efforts.
Broderick urged the peacekeepers to continue to reflect on the duty of responsibility placed upon them as they lend their support to the fledgling new country South Sudan.
"It is remarkable to see the transition this country has made from being a country where UN peacekeeping forces were required, to becoming a contributor to UN peacekeeping operations," he said. "By sharing your skills and experience with countries that are enduring conflict and political instability, your work helps save lives and rebuild the communities in which you serve."
"As you depart today for South Sudan, you become a part of the United Nations family as you enter the service of humanity," Broderick said.
"No nation can live in harmony and prosperity without peace and stability and thus our mission is very important," said Tea Banh, deputy prime minister and minister of national defense.
"The departure of the military personnel is indeed a new milestone that manifests our commitment and greater contribution to global peace," he said.

Cambodia prepares for traditional New Year Celebration

PHNOM PENH, April 11 (Xinhua) -- Cambodia has been preparing for the celebration of its traditional New Year, which will arrive on April 13; security and public order has been strengthened and leaders begin sending blessing messages to their compatriots.
"On the auspicious occasion of the celebration of the Year of the Dragon, which will arrive in a short period ahead, I'd like to bless all of Cambodian people with longevity, nobility, happiness and strength," Cambodian Prime Minister Hun Sen said Wednesday during the closing of the annual conference of the Ministry of Agriculture, Forestry and Fisheries.
In a separate message to his Cambodian people on the eve of the New Year, the premier highlighted the last year's progress in the country's social and economic development and noted remarkable infrastructure development such as roads and bridges under the assistance of China, Japan and South Korea. "In the New Year, the Government of Cambodia will further strengthen stability, security, and peace nationwide in order to push for substantially social and economic development," he said.
He also called for the people of Cambodia to stick to " national solidarity and unity" in order to build a country with happiness and prosperity.
To celebrate the occasion, President of the Senate Chea Sim also issued a blessing message, appealing to Cambodian people to unify in order to build Cambodia as the country of the rule of law, the country of progress, peace, stability and prosperity.
The Year of the Dragon will begin from 7:11 p.m. on April 13. Traditionally, to greet the New Year angel, Cambodian people light candles, incense sticks and offer the angel's favorite fruit-- banana--as well as other fruits and soft drinks.
Families bring food, cash, and praying things to offer to Buddhist monks in pagodas in order to dedicate to their ancestors and wish for longevity, good luck, happiness and prosperity in the New Year.
The New Year celebration is also the time for young girls and boys gather and enjoy playing a variety of traditional games, dancing and singing in vicinities of pagodas and tourism sites throughout the country.
Meanwhile, the Phnom Penh Municipality issued a directive, ordering authorities at all levels in Phnom Penh, the capital of Cambodia, to strengthen security and public order for the people during the three-day holiday.
The municipality also appealed to bus companies and taxi drivers not to raise fees during the holiday in order to facilitate migrant workers to travel from Phnom Penh to visit their hometowns in various provinces.
According to the municipality, to greet the New Year, fireworks will be shot into the sky at Wat Phnom, the capital's historical and cultural site, at the first night of the New Year and concerts will be performed at different places in the capital to entertain the New Year revelers at nights.

ADB forecasts Cambodia's GDP growth at 6.5 pct in 2012

PHNOM PENH, April 11 (Xinhua) -- The Asian Development Bank ( ADB) predicted that Cambodia's Gross Domestic Product (GDP) will grow 6.5 percent this year, 0.3 percentage point lower than that of 6.8 percent last year, due to the sluggish economic growth in Europe and the United States, according to the Bank's Outlook 2012 Update released on Wednesday.
The ADB forecast is the same as the predictions by the International Monetary Fund and the World Bank, but lower than the 7 percent forecast by Cambodian government.
The report said that the country's export-led sectors, including garment and footwear will remain the main sources of growth this year, with some new manufacturing industries beginning to emerge, such as automotive parts and assembly of small electric motors.
"The subdued economic outlook for the EU and the United States, Cambodia's main export markets, suggests that GDP growth will edge down to 6.5 percent in 2012," it said, adding that in 2013, growth is seen picking up to 7 percent, tracking the expected upturn in the global outlook.
"Despite the worst floods last year in more than a decade and high levels of uncertainty and recession in the global environment, Cambodia is expected to exhibit healthy economic growth over the next two years," said ADB Deputy Country Director and Senior Country Economist for Cambodia Peter Brimble.
"However, mismatches in the human capital and skills markets, which have intensified over the past few years, highlight the need to bring schools and vocational training institutes closer to the business community, in order to promote quality and relevance to market demand."
Cambodia's economy is supported by four key pillars, including garment exports, tourism, agriculture and real estate.
The expected slowdown in 2012 reflects falling industry exports with only slight increases in the growth of the services and agriculture sectors. Growth in industry driven by exports of garments and footwear to the United States and the EU is projected to slow to 11.4 percent from 13.9 percent the year before.
It added that construction is expected to strengthen, stimulated by foreign direct investment in property. The extent and timing of exploitation of oil and gas reserves in Cambodia remain unclear, but it is not anticipated to have an impact on GDP before 2015.
Growth in services is expected to edge up to 5.3 percent in 2012 from 5 percent last year. Agriculture, which was disrupted by the flooding in late last year, is forecast to grow by 3.8 percent, up from 3.3 percent, assuming favorable weather.
The report forecast that the country's inflation in 2012 and 2013 is forecast to ease to about 5 percent on a year-average basis, from 5.5 percent last year. However, rising global oil prices early in 2012 may put the inflation forecast at risk, said Peter.

Maruhan Japan Bank announces Chinese Yuan transaction services in Cambodia

PHNOM PENH, April 10 (Xinhua) -- The Maruhan Japan Bank announced the formation of a "correspondent relationship" with the Bank of China in order to offer its customers in Cambodia payment settlement in Renminbi (RMB), or known as Chinese Yuan or CNY, according to the bank's press release obtained on Tuesday.
"This move will position Maruhan Japan Bank as one of only a few global banks that can perform financial transactions in Chinese Yuan," it said, adding that Chinese Yuan, already a globally significant currency, is fast becoming the ASEAN's second largest currency, after the U.S. dollar.
"With this relationship in place, Maruhan Japan Bank's customers will be able to settle payments and carry out currency transactions in RMB, subject to the standard controls applicable to such transactions in China, making them highly attractive as trading partners for those doing business in China," said the statement.
Maruhan Japan Bank remains committed to pushing the boundaries of the banking industry in Cambodia and ensuring that Cambodians, and others doing business in Cambodia, have access to truly international standard banking products and services, and fully functional and competitive regional banking networks.
It said the relationship with the Bank of China will not only contribute to people doing business with China in Cambodia, but also all people in the ASEAN countries due to Maruhan's regional expansion to Laos, Myanmar and Singapore.
Nguon Sokha, director general of the National Bank of Cambodia, said that the bank's offer of Chinese Yuan settlement services reflected growing demand of Chinese Yuan in Cambodia due to bigger trade and investment sizes between Cambodia and China.
"Maruhan Japan Bank is the first of all banks in Cambodia that adds Yuan transaction services to its customers," she told Xinhua by telephone on Tuesday. "This will help facilitate trade and investment activities between Cambodia and China."
China is the largest investor in Cambodia with the cumulative investments of 8.91 billion U.S. dollars between 1994 and 2011, according to the figures of the Council for the Development of Cambodia. On the bilateral trade, the two-way trade volume was 2.5 billion U.S. dollars last year. The two sides vowed to boost it to 5 billion U.S. dollars in 2017.

Cambodia sees sharp rise in internet subscribers in past year

PHNOM PENH, April 10 (Xinhua) -- Approximately 1.69 million people in Cambodia have subscribed internet services as of December last year, almost 8-fold increase from only 194,000 users in 2010, according to the statistics of Ministry of Posts and Telecommunication on Tuesday.
It said the country has 27 internet service providers by last year, up 7 companies if compared to a year earlier.
The Minister of Posts and Telecommunication So Khun attributed the huge increase to good internet infrastructure, competitive service fees, and more people's awareness of internet usage.
He said the development of Information and Communication Technology is one of the government priority sectors to contribute to the country's economic growth and poverty reduction. "We have been putting all our efforts to develop the ICT sector to be as developed as that in advanced countries," he said.

Cambodia awards honorable medals to Chinese engineers for gov't building maintenance

PHNOM PENH, April 9 (Xinhua) -- The Cambodian government on Monday pinned honorable medal decorations to five Chinese engineers from the China Yunnan Construction Engineering Group for good repair and maintenance of the government building.

The honorable medal recipients are Li Shaoquan, assistant to General Manager of International Engineering Department, Li Xuesong, project manager of the building repair and maintenance project, Du Lin, general accountant of the building repair and maintenance project, Lu Wenbo, administrative director of the building repair and maintenance project, and Xu Yeqin, interpreter for the project.

Speaking during the medal awarding ceremony, Senior Minister Yim Nola, Chairman Economic Social and Cultural Observation Unit at the Council of Ministers, said that the China-funded government building dubbed "Friendship Building" was officially inaugurated in October 2010 and since then, Chinese and Cambodian engineers have constantly provided repair and maintenance services in order to ensure the effective use of the building.

"We, Cambodian people, profoundly thank to the government and people of China for providing constant support to Cambodia for the development in all fields, especially roads, bridges, irrigation system, and hydropower dams," he said. "The assistance is very vital for Cambodia to develop economy and alleviate poverty."

He said the government building consists of seven floors with the height of 40 meters and the total space of 32,580 square meters.

The building is one of the symbols and achievements among other accomplishments that have stemmed from the friendship and close cooperation between Cambodia and China.

Cambodia, Thailand shall boost trade as border tension eases: Hun Sen

PHNOM PENH, April 9 (Xinhua) -- Cambodia and Thailand need to boost bilateral trade ties as the border conflict has eased, said Cambodian Prime Minister Hun Sen on Monday.
"Now, the border situation has been much improving, no more military tension," he said during the inauguration of the national road No. 68 in Siem Reap Province.
The prime minister said that as the border dispute was over, it was the time the two nations began to think about ways to promote the bilateral trade.
He recalled that on the sidelines of the 20th ASEAN Summit here last week, he had discussed with Thai Prime Minister Yingluck Shinawatra about border trade promotion between the two countries, and Yingluck agreed with him that bilateral trade must be increased and she also advised the Thai commerce Minister to discuss with Cambodian counterpart on this issue.
"The exchange of goods with each other is more advantageous than the exchange of bullets," said Hun Sen, recalling the last year's gunfire exchange between the two countries' troops in February and April that claimed lives of troops and civilians on both sides.
He said Cambodia wants to build a border of peace, friendship, cooperation and development with Thailand as it has done with Vietnam and Laos.
Fierce border conflicts between Cambodia and Thailand broke out just a week after the UNESCO approved Cambodia's bid to have the Preah Vihear Temple named a World Heritage Site on July 7, 2008.
The International Court of Justice awarded the cliff-top situated Preah Vihear Temple to Cambodia on June 15, 1962, but Thailand claims the ownership of 4.6 square kilometers of scrub next to the temple.
On April 28, 2011, Cambodia submitted a request to the ICJ for interpretation of its judgment in 1962 on the ancient temple. It was accompanied by an urgent request for provisional measures in which Cambodia demands Thailand immediately and unconditionally to withdraw troops from the area surrounding the ruins.
During the interval of waiting for the verdict interpretation, the ICJ ordered Cambodia and Thailand on July 18, 2011 to immediately withdraw their military personnel from the 17km Provisional Demilitarized Zone (PDZ) on the disputed border near the temple and allow ASEAN observers to access to the PDZ to monitor ceasefire.
So far, neither Cambodia nor Thailand has withdrawn its troops from the area.
"We let the ICJ proceed its judgment in the case of the disputed area, and the two governments have to find ways to boost bilateral trade," said Hun Sen.
The bilateral trade between Cambodia and Thailand last year was 3.08 billion U.S. dollars, up 21 percent from a year earlier, according to the statistics provided by Thai embassy in Phnom Penh.

Cambodian, Chinese businesspeople meet to boost trade, investment ties

PHNOM PENH, April 6 (Xinhua) -- A large group of Chinese investors from Yunnan province met with Cambodian businesspeople here on Friday in bid to further strengthen the two countries' trade and investment cooperation.
The China's Yunnan-Cambodia Economic and Trade Promotion Conference was co-chaired by Li Jiheng, Governor of China's Yunnan province, and Cambodian Minister of Commerce Cham Prasidh.
Speaking at the event, Xiong Qinghua, director general of Yunnan province's Commerce Department, said the conference aimed at promoting trade and economic cooperation activities and exploring business partnership between Cambodian and Yunnan enterprises.
It was attended by business executives from 45 Yunnan enterprises, doing businesses in the fields of energy, construction and real estate, mineral resources, banking and finance, engineering, steel industry, oil and gas, agriculture, food and beverage, publication and arts and culture industry, whilst the Cambodian side was participated by some 250 entrepreneurs.
In a welcoming address, Cham Prasidh said the conference would help enhance friendship, deepen cooperation, and develop relationship between Cambodia and Yunnan, as well as China in a bigger picture.
The minister said the meeting was held just a few days after the successful visit of Chinese president Hu Jintao to Cambodia, adding that during the visit, Hu Jintao and Cambodian Prime Minister Hun Sen had vowed to boost the bilateral trade volume to 5 billion U.S. dollars by 2017 from 2.5 billion U.S. dollars in 2011.
"The conference today will be a part of activities to promote trade and investment between the two countries in order to help the two governments to achieve the target of 5 billion U.S. dollar trade volume in the next five years," he said, advising both sides ' entrepreneurs to seize business opportunity for mutual benefits.
He said Cambodia has a great potential in a number of sectors namely agriculture, agro-industry, infrastructure, labor-intensive industry, export industry, and natural resources, especially oil and gas and mining, as well as tourism.
"These sectors have not been fully developed yet; therefore, many investment opportunities are awaiting investors from all corners in order to achieve sustainable development," said the minister.
"Cambodia is committed to further strengthen close relationship with China in order to transform the relations into a real strategic partner in economy, trade, investment, politics and security in the coming decades."
Speaking at the conference, Li Jiheng said China and Cambodia are mutually trusted good neighbors, good partners and good friends, and Yunnan province was to conduct cooperation together with Cambodian friends from all walks of life for a better future.
He said Yunnan has strengthened exchanges and cooperation with Cambodia in recent years through official visit exchanges and a lot of Yunnan investors have been doing businesses in various fields in Cambodia.
He added that trade volume between Yunnan province and Cambodia totaled 6.67 million U.S. dollars last year, up 83 percent. 

Kunming-Cambodia direct flights to be launched later 2012

PHNOM PENH, April 6 (Xinhua) -- Direct flights between China's Kunming city and Cambodia's Siem Reap and Phnom Penh are expected to be launched later this year in order to further promote trade and tourism between the two countries, said a Cambodian government official on Friday.
The plan was announced on Friday during a meeting between visiting Li Jiheng, Governor of China's Yunnan province, and Cambodian Deputy Prime Minister Sok An, Minister of the Council of Ministers (COM), according to Ek Tha, spokesman and deputy director of press unit at the COM.
"In the meeting, His Excellency Li Jiheng sought Cambodia's permission for the upcoming direct commercial flights from Kunming to Cambodia," he said. "It is expected the flights will be launched later this year."
According to Ek Tha, Li told Sok An that a newly built international airport in Kunming city worth more than 2 billion U. S. dollars will be inaugurated on June 28 this year and he had invited Sok An to join the inauguration.
Sok An welcomed the plan for the direct flights, saying that the flights from Yunnan will bring more tourists to Cambodia.
According to the statistics of Cambodia's tourism ministry, Cambodia attracted 247,200 Chinese tourists last year, an increase of 39 percent, making Chinese tourists the third largest arrival group to this Southeastern Asian nation.
Meanwhile, Sok An said attending the airport inauguration would give Cambodia's civil aviation officials a chance to learn a great deal about new developments in civil aviation industry.
Li led a large group of business executives from Yunnan province to visit Cambodia from April 4-6.

Chinese embassy organizes first fund raising event for Cambodian Red Cross

PHNOM PENH, April 6 (Xinhua) -- Chinese embassy to Cambodia on Friday afternoon organized a fund raising event through selling China-made ceramic products, household items and jewelry in order to raise money for Cambodian Red Cross.
Zhao Xiao Ling, the wife of Chinese ambassador Pan Guangxue, said it was the first time the embassy held the two-hour event and a number of high-profile figures in Cambodia had been invited to buy products at the event.
"The money from the product sales will be donated to Cambodian Red Cross for humanitarian activities," she said.
Any Sok An, first vice-president of Cambodian Red Cross, expressed sincere thanks to Chinese embassy for organizing the event, which is partly contributing to help Cambodian Red Cross in its humanitarian cause.
"China is not only Cambodia's largest investor, trading partner and infrastructure donor, but it is also the country's largest donor in humanitarian activities."
"China's donation is really vital to relieve difficulties that Cambodian people are facing due to disasters," she said.
Expressing his opinion about the fund raising event, Deputy Prime Minister and Defense Minister Tea Banh said that the event reflected China's attention to help Cambodia in humanitarian activities. 

Work on China-funded power transmission line begins in eastern Cambodia

KAMPONG CHAM, Cambodia, April 5 (Xinhua) -- Cambodia on Thursday broke ground for the construction of a 22 kilovolt electricity transmission line in the country's eastern part.
The ceremony was presided over by Suy Sem, Cambodia's Minister of Industry, Mines and Energy, and Chinese Ambassador to Cambodia Pan Guangxue.
Speaking at the event, Suy Sem said the power transmission line will be built through four provinces including Kampong Cham, Prey Veng, Kampong Speu, and Preah Sihanouk.
The construction is made possible under a concessional loan of 53 million U.S. dollars from the Chinese government, he said.
"The project will provide large economic advantages to people in those provinces when it is completed," he said. "On behalf of the Government of Cambodia and myself, I'd like to profoundly thank China for its aid on the right target and right time to develop Cambodia's energy sector."
The minister said that China is the largest country that helps develop energy sector in Cambodia.
He added that in last December, the Sinohydro Corporation put into operations of the 193 megawatt Kamchay hydroelectric dam in Southwest Phnom Penh, and other four China-invested hydroelectric dams with a total capacity of 722 megawatts are being built and all expected to be completed by 2015.
Meanwhile, Pan Guangxue said the power transmission line project will benefit 4 million people in those provinces.
"China sees Cambodia as a good brother, neighbor, friend, and partner," he said. "All China's aid and investment in Cambodia are thanks to the good and close ties between our two governments."
He said China would continue its assistance to Cambodia in the economic and social development.
According the power transmission line master-plan, the China National Heavy Machinery Corporation is responsible for the construction and the project is expected to be completed in 2014.

Cambodian court convicts two Lao drug traffickers

PHNOM PENH, April 5 (Xinhua) -- The Phnom Penh Municipal Court on Thursday convicted two Lao men of drug trafficking and sentenced one of them to 7 years and the other to 5 years in jail, according to a verdict read by presiding judge Duch Kimsorn.
Sak Keo, 30, was sentenced to 7 years in prison and Koeung Sen, 52, was jailed for 5 years. The court also fined the convicts 2, 500 U.S. dollars each.
According to the verdict, a Cambodian man Sean Borath, 43, who was also implicated in the drug trafficking case, was sentenced to 7 years in jail and fined 2,500 U.S. dollars.
The men were arrested on August 22 last year in Phnom Penh by police at the National Authority for Combating Drugs.
During the crackdown, the police had seized about 2,000 methamphetamine pills and materials for drug use.
Under Cambodia's law, the convicts have one month to appeal against the verdict.

ASEAN foreign ministers to visit Myanmar in June

PHNOM PENH, April 5 (Xinhua) -- The Foreign Ministers of the Association of Southeast Asian Nations (ASEAN) are going to visit Myanmar in June, Surin Pitsuwan, secretary-general of ASEAN, said here Thursday.
"During the 20th ASEAN Summit, they were invited by Myanmar's Foreign Minister U Wunna Maung Lwin to visit Nay Pyi Daw and Yangon sometime in June before the ASEAN foreign ministers' meeting in July in Phnom Penh," Surin Pitsuwan told reporters.
He said during the visit, the foreign ministers of the 10- member ASEAN would talk about Timor-Leste application for ASEAN membership, and how ASEAN can help revive the long-stalled six- party nuclear talks involving South Korea, the Democratic People's Republic of Korea (DPRK), China, Russia, the United States and Japan, which are all members of ASEAN Regional Forum.
Surin said Cambodian foreign minister Hor Namhong will visit the DPRK sometime before the ASEAN Regional Forum in July in Phnom Penh.
"Cambodia, 2012 ASEAN chair, has a very unique special relationship with Pyongyang through Cambodia's former King Norodom Sihanouk, the country and ASEAN will try to bring the DPRK into the six-party talks," he said.
The six-party talks on the DPRK's nuclear weapon program were halted in April 2009 when the DPRK withdrew from the talks in reaction to the international condemnation of its long range missile test.
ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

Cambodian, Thai disputed border situation much improving: ASEAN chief

PHNOM PENH, April 5 (Xinhua) -- The situation of Cambodian and Thai border dispute at the area next to the 11th century Preah Vihear temple has been much improving even though there has been no presence of Indonesian observers to monitor a ceasefire so far, Surin Pitsuwan, secretary-general of the Association of Southeast Asian Nations (ASEAN), said Thursday.
According to their observation, "there is no more violence on Cambodian and Thai border," he told reporters on the sidelines of the International Conference on Political Public Relations in the ASEAN-context.
He said the two sides have been working through their bilateral mechanisms towards the deployment of Indonesian observers and he hopes that everything is under control.
"From the perspective of ASEAN, any problem or difficulty with and among any member would not be desirable," he said, adding "it would give an impression of insecurity and instability and would affect our profile in the world."
Cambodia and Thailand has border conflict just a week after the UNESCO approved Cambodia's bid to have the Preah Vihear temple named a World Heritage Site on July 7, 2008 and witnessed fierce clashes in February and April 2011 during Thailand's Democrat Party rule.
Thailand claims the ownership of 4.6 square kilometers of scrub next to the temple.
However, the military tension has eased since the former Thai Prime Minister Thaksin Shinawatra's Pheu Thai Party won a landslide victory in the general elections in last July.
The International Court of Justice (ICJ) on July 18, 2011 ordered Cambodia and Thailand to immediately withdraw their military personnel from the Provisional Demilitarized Zone of about 17 kilometers on the disputed border near Preah Vihear temple and allow ASEAN observers (Indonesians) to access to the PDZ to monitor ceasefire.
So far, neither Cambodia nor Thailand has withdrawn its troops from the area.
Surin said he did not know when the observers would be deployed.

China key strategic partner of Cambodia, ASEAN: Cambodian PM

PHNOM PENH, April 4 (Xinhua) -- Cambodian Prime Minister Hun Sen, chair of 2012 ASEAN, said Wednesday China is a major strategic partner of the Association of Southeast Asian Nations ( ASEAN) and Cambodia.
Answering reporter's questions about the relations between ASEAN and China, the premier criticized some analysts who alleged that China and some ASEAN countries are preparing for a possible war.
"That is a completely wrong understanding, in contrast, the ASEAN leaders or ASEAN are all prepared to strengthen strategic partnership of ASEAN and China," he told a press conference after the conclusion of the 20th ASEAN Summit.
"Don't forget that ASEAN and China are the strategic partners and China is the ASEAN's largest trading partner," he said.
China has substantially helped ASEAN, he said, adding that annually China provides credit to ASEAN member states.
He recalled that during the ASEAN-China Summit in Indonesia last year, Chinese Premier Wen Jiabao announced that China will grant ASEAN a credit of 10 billion U.S. dollars. Within the amount, 4 billion U.S. dollars is for concessional loans, and Cambodia has also received it for infrastructure development.
On Cambodia-China ties, Hun Sen said the two countries raised their relations of good neighbors, good friends and good partners to comprehensive strategic partnership of cooperation in 2010.
He said China's loans to Cambodia are very important to develop roads, bridges, irrigation system, and electricity, which are the key elements to boost economic growth.
He noted that many Chinese investors are in Cambodia with their investments up to 9 billion U.S. dollars.
On some media reports that Chinese President Hu Jintao's visit to Cambodia ahead of the ASEAN Summit was aimed to put pressure on Cambodia on the issue of South China Sea, the premier said that President Hu's visit was to further enhance Cambodia-China ties, not pertinent to the ASEAN Summit.
"During his visit here, Hu Jintao did not tell me that I have to do this or that; it is not in the practice of Chinese policy. I have been working with China for more than 20 years, I have never faced, never heard that any Chinese leaders ordered Cambodia to do this or that," he said.
Terming as "silly" media speculation that China had made Cambodia keep the South China Sea issue off the summit's agenda, Sen criticized those analysts, saying that they were "unaware of the procedures of ASEAN."
"There is no hindrance from China to work with ASEAN to solve the South China Sea issue. It cannot be solved with an outside country and Cambodia will resist any attempt by such a nation as well," he said, adding that economic ties between the two countries showed China's non-conditional nature in handling international relations.
He said China is a big country, but always respects the decision of other countries unlike some countries which cut assistance when Cambodia did not do as they wish.
"Cambodia is a small country, but it is welcomed by China, it is a great honor for us," he said.
Hun Sen said that during the visit of Hu Jintao, the two countries vowed to double their bilateral trade volume to 5 billion U.S. dollars in 2017 from 2.5 billion U.S. dollars in 2011.
"In the past, Chinese Premier Wen Jiabao and I vowed to push the two-way trade volume to 2.5 billion U.S. dollars in 2015, but just in 2011, we had achieved that target--it was four years earlier than the target," he said.
"We have seen the momentum of the bilateral trade between Cambodia and China, so the two countries decided to promote the bilateral trade to 5 billion in 2017."
"The development of China brings prosperity to all countries in ASEAN, the region and the world," said the premier.
The Association of Southeast Asian Nations (ASEAN) groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.