Logo of Phnom Penh Post newspaper Phnom Penh Post - Agencies meet up to boost trade potential

Agencies meet up to boost trade potential

Agencies meet up to boost trade potential

SENIOR officials from the Ministry of Commerce, leading representatives from the private sector, and development agencies met Tuesday in a multi-lateral effort to boost Cambodia’s trade potential.

The meeting was called as part of the United Nations Development Programme’s Trade Sector Wide Approach (Trade SWAp) initiative. In the first day of the three-day-long retreat, 11 aid projects were adopted that will provide Cambodia with investments of roughly US$2 million.

According to a Ministry of Commerce press release, they will help the ministry “effectively administer rules of origin, custom valuation, product information for trade promotion and draft sanitary standards”.

Funding for the projects is being provided by the Trade Development Support Programme (TDSP), a trust fund managed by the World Bank, which will finance trade strategies for an initial three-year-period under the scheme.

The Ministry of Commerce’s website stated Tuesday that Trade SWAp is an effort to focus national policy and international support on a “single comprehensive programme endorsed by all sector stakeholders”.

“Remarkable challenges related to regulation, finance, management capacity and staff incentive schemes have emerged,” said Senior Commerce Minister Cham Prasidh Tuesday, according to extracts from his opening speech.

MOST VIEWED

  • Angkor lifetime pass, special Siem Reap travel offers planned

    The Ministry of Tourism plans to introduce a convenient, single lifetime pass for foreign travellers to visit Angkor Archaeological Park and potentially other areas. The move is designed to stimulate tourism to the culturally rich province of Siem Reap as the start of the “Visit

  • Bosba: The first Khmer woman composer from UK’s Cambridge

    Bosba Panh is just 25 years old, but she’s already accomplished some impressive milestones for herself and the Kingdom. On July 24, she graduated with a Master’s degree from the University of Cambridge as the first Khmer woman composer and Khmer music graduate ever at

  • ‘Golden’ Angkor Wat likely due to natural phenomenon: ANA

    Pictures and video clips of the Angkor Wat temple, its spires seemingly coated in gold, have been shared tens of thousands of times on social media, prompting a sense of wonder among those who have seen them. Hong Sam Ath, who took the pictures and

  • Pailin longan winery tries to break through to the big time

    Longan aren’t quite as glamorous as some fruits. They don’t have the star-power of mangos or generate the excitement of a pricey seasonal niche fruit like the pungent durian. Unlike bananas or oranges, which are known and loved everywhere, longan remains a decidedly

  • Debt restructuring over, time to tackle rising NPL ratio

    The Cambodian banking system has just completed a 26-month debt restructuring exercise where scores of loan accounts were revised, classified and provisioned as the rate of non-performing loans inched up, sparking a slight credit risk unease Implemented in April 2020, the Covid-19 debt restructuring measures came

  • Koh Slaket studio resort brings culture with style

    Davitra (Cambodia) Co Ltd’s multi-million-dollar 13ha Koh Slaket studio-cum-resort just east of the capital was inaugurated in the first phase on August 6, providing national and international tourists with a new travel option and job opportunities for locals. The man-made cultural and scenic lakefront getaway