CCC plans strategic expansion at home, abroad to fuel trade
THE Cambodia Chamber of Commerce (CCC) announced plans to expand its representative offices nationwide, as well as in various countries globally. The initiative aims to enhance the provision of economic information, broaden trade and attract foreign investment.
CCC vice-president Lim Heng told The Post on February 13 that a recent meeting between CCC president Kith Meng and Minister of Commerce Cham Nimul was indicative of the partnership between the two bodies.
“For our 2024 objective, we aim to extend the representative offices of the CCC across the country. We will also broaden the presence of the [chamber] internationally. We plan to organise a variety of business forums, particularly during Prime Minister Hun Manet’s overseas visits, to facilitate those and other business matching opportunities,” he stated.
“At the same time, we are dedicated to collaborating with the government in formulating trade laws as the CCC is … the sole representative of the private sector in Cambodia. Our collaborations extend within the ASEAN framework, including the ASEAN Business Council, as well as with countries like the US, Japan, Canada, China, Australia and others,” he added.
Heng highlighted that the council inaugurated two new representative offices in Australia in May 2023, located in Melbourne and Sydney. Prior to this, he said, the chamber had established offices in Canada, the US and Japan.
Data released by the General Department of Customs and Excise (GDCE) indicated that Cambodia’s exports surpassed $22.65 billion in 2023, marking a 1.8% increase from $22.25 billion in 2022.
The country’s total imports stood at $24.18 billion, a 5% decrease from $25.46 billion in the previous year.
The 2023 figures show a total trade value of $46.83 billion, a marginal decline of 1.9% from $47.71 billion in 2022. The trade deficit stood at approximately $1.54 billion, considerably lower than the $3.21 billion recorded the year prior.
The Kingdom’s principal trading partners include China, the US, Vietnam, Thailand, Japan, Indonesia and Germany, as per the GDCE.