Cambodia to Ratify ASEAN-India Free Trade Agreement
Friday, 12 November 2010 10:55 DAP NEWS / VIBOL
CAMBODIA, PHNOM PENH, Nov 12, 2010-The Cambodian government on Friday approved the three agreements under framework of ASEAN- Indian Free Trade Agreement. The statement from the Cabinet meeting led by Prime Minister Hun Sen said that it will send the three agreements to ask for ratification from the national soon.
It will help expand the trade, and economic integration into the region,” He said in meeting.
The Hindu Time. Indian media said that the mutually agreed tariff liberalisation would “gradually” cover 75 per cent of the two-way trade, beginning from January 2010. India-ASEAN trade was of the order of $40 billion in the 2007-08 accounting year. The regional bloc was now India’s fourth largest trading partner. It added that the accord, India’s first with a trade bloc, will cover 11 countries with a combined Gross Domestic Product of over $2 trillion. The combined population is of the order of 1.6 billion.
It said: The ASEAN’s expectation was that the agreed tariff cuts under the FTA, as now signed, would be fully implemented by the end of 2013 and 2016 in respect of two “normal tracks.” A timeline had also been agreed upon for the “sensitive list” of items.
Under the trade pact, India has included 489 items from agriculture, textiles and chemicals in the negative list, meaning these products will be kept out of the duty reduction. Addressing concerns of domestic planters, black tea, coffee, pepper and rubber have been included in the sensitive list, which could mean duties will be cut by 2019 only. .
Cambodia Protects Gray Crane and other Birds
Friday, 12 November 2010 10:40 DAP NEWS / VIBOL
CAMBODIA, PHNOM PENH, Nov 12, 2010-Cambodian government on Friday approved the sub-decree on establishment of area management for protecting the gray crane and other birds in reserve region of Along Prieng area in Kompong Trach district of Kompot province, southwestern part of the country about 140 km from Phnom Penh.
And we need to turn the conservation region of 217 hectares into eco-tourism in the future and it also will contribute the family farming for fishery for all seasons for local people living around the area,” Prime Minister Hun Sen said in the cabinet meeting.
He added that it will help local people and conserve the lake for protection of biodiversity and that bird species is rare one in the country. The law has 4 chapters and 8 articles.
Cambodia Owes World Bank with over 733 million US dollar Since 1993
Thursday, 11 November 2010 11:45 DAP NEWS / VIBOL
CAMBODIA, PHNOM PENH, Nov 11, 2010-Cambodian economic minister Keat Chhon said on Thursday that Cambodia owed to world bank over 733.5 million US dollar under concession loan and the bank also provided the over 365 million US dollars grant aid for Cambodia to restore rural developments and other infrastructure both soft ware and hardware in the country.
“In total, both concession loan and grant aid, World Bank handed over 1.099 million US dollar since 1993,” he added. The late project is worth 40 million US dollar, and 20 of 40 million is concession loan to restore the areas suffering from Ketsana typhoon last year.