CLMV News – 22 May 2023

CLMV Cambodia, Lao PDR, Myanmar, News, Viet Nam

CAMBODIA

Cambodia’s economy is on a recovery path, with growth predicted to accelerate to 5.5% this year, according to a World Bank report. In 2022, growth reached 5.2%, returning to pre-pandemic levels, mainly due to a rebound in services, especially trade. (Khmer Times)

The Council of Ministers on May 19 approved the draft rule-of-origin law, which commerce minister Pan Sorasak is confident will substantially promote Cambodia’s international trade. Comprising nine chapters and 35 articles, the draft law was passed during a meeting of the council – also called the Cabinet – and will now be sent to the National Assembly for consideration in the near future. (Phnom Penh Post)

LAO PDR

Laos has been registering a trade surplus for four consecutive years, the trade surplus in 2022 was US$1.39 billion. The total two-way trade between Laos and foreign countries for 2022 stood at US$15 billion, with exports valued at US$8.19 billion and the value of imports recorded at US$6.8 billion, according to the Ministry of Industry and Commerce. (Vientiane Times)

MYANMAR

“The World Food Programme has already started rapid food distributions to populations in extreme need in Rakhine and in Magwe and is going to be expanding further in the coming days,” said WFP Myanmar Country Director, Stephen Anderson. (Reuters)

VIET NAM

On Saturday, Prime Minister Phạm Minh Chính emphasised the importance of a global approach, multilateralism, self-reliance of every country, and extensive international cooperation to realise sustainable development, climate change responses, emission reduction and energy transition. (Viet Nam News)

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