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Cambodia, Malaysia, Thailand and Vietnam (CMTV) may soon have to pay tariffs as high as 254 per cent on the export of solar panels and modules to the US, following claims that mainland Chinese manufacturers could be circumventing Washington’s duties by assembling related equipment in these four Southeast Asian countries, according to reports.
Cambodia exported nearly 1.031 million tonnes of cassava in either fresh, dried, powder or pulp/residue form in the first three months of 2023, of which nearly three-quarters went to Thailand, according to agriculture ministry data, as local reports suggest that prices for the tubers in Battambang are up 20-30 per cent year-on-year.
Cambodia's international trade volume passed $11 billion in the first quarter of the year – ended March 31 – but registered a drop of over one-seventh from the same period a year earlier albeit a slight decline from the previous quarter, official figures showed, as international economic crises tied to the Ukraine conflict and other geopolitical threats raged on.
The commerce minister on May 3 reiterated an invitation for South Korean investors to pump money into a range of Cambodian sectors and take advantage of the Cambodia-Korea Free Trade Agreement (CKFTA) that took effect on December 1.
A border trade agreement signed between Cambodia and Vietnam on November 8 last year – expected to be promulgated soon, having cleared the Senate – should ensure that two-way imports and exports grow at an annual rate of at least 15-20 per cent in the coming years, according to Ministry of Commerce spokesman Penn Sovicheat on May 3.