How To Kh

Tag: Exchange

  • Exchange with Japan, Canada sees development the finish of 2024

    Exchange with Japan, Canada sees development the finish of 2024

    Japan and Canada, two G7 countries, are on target to be Cambodia’s fifth and sixth biggest trading accomplices in 2024. Japan will be the fifth. Canada will be the sixth. This is as per late information delivered by the Overall Division of Customs and Extract (GDCE). The exchange between the two countries and the Realm in 2024 has demonstrated huge development.

    Contrast Japan-Canada Cooperation

    In contrast, the 2023 exchange figures were lower. During the initial 11 months of 2024, trade between Japan and Cambodia amounted to $1.949 billion. This was an increment of nearly 19% compared to trades recorded between January and November 2023. This reflects how the exchange relationship grew. Additionally, exchange with Japan and Canada will develop at the end of 2024.

    Cambodian products to Japan accounted $1.272 billion of the exchange surplus in the initial 11 months of last year. This was up more than 19% compared to a similar period in 2023. In the meantime, imports from Japan into the Realm added up to $677.41 million in the initial 11 months of 2024, up more than 18% from a similar period the year prior. Based on trends in the first 11 months of 2024, Japan is on track. It will remain the Realm’s fifth-largest trading partner. This is in light of the absolute worth traded.

    China keeps on standing firm on the main situation, trailed by the US, Vietnam, and Thailand. Key Cambodian-made commodities to Japan in 2024 included attire and clothing, packs, shoes, furniture, and cowhide items. Additionally, beauty care products and paper and office supplies were important exports. In the interim, key imports from Japan into Cambodia last year were vehicles, hardware and gadgets. Other imports included furniture, materials, and plastic items.

    Exchange with Japan, Canada sees development the finish of 2024

    Measurements from the Service of Trade (MoC) likewise demonstrated strong growth in Japanese business interests in Cambodia throughout 2024. From January to November last year, a total of 88 Japanese organizations enlisted in the Realm. This was up more than 20% from the initial 11 months of 2023. During a similar period, Cambodia’s exchange with Canada also worked impressively.

    This was in contrast to prior years. From January to November 2024, the exchange between Canada and the Realm reached an all-time high of $1.063 billion. This marked a 27 percent expansion compared with a similar period in 2023, as per GDCE measurements.

    Canada is expected to become Cambodia’s 6th biggest exchange partner for 2024. This is based on the trend in exchange results for December 2024. This follows Japan in the fifth spot. Cambodian products to Canada accounted $1.011 billion of the public all-out trade balance. This was a jump of more than 30% compared with the initial 11 months of 2023.

    Imports from Canada into the Realm in the mean time addressed an amount of $52.07 million, dropping 15 percent contrasted with a similar period in the earlier year. Cambodian products to Canada dominate the exchange relationship now. They account for more than 95% of the total exchange volume between the countries. Key commodity items from Cambodia to Canada in 2024 included attire, footwear, packs, and bikes.

    To continue benefiting from solid growth in exchange and investment between Cambodia and Canada, various initiatives have begun recently. These initiatives aim to enhance the partnership between the two nations.

    During the ‘ASEAN Culmination’ held in Laos in October 2024, Canada’s Head of State, Justin Trudeau, shared important news. He discussed this with the state Head Hun Manet. He announced that Canada will open a consulate in Cambodia soon. This aims to more likely facilitate exchange, investment, and diplomatic efforts between the two countries.

    I couldn’t find a specific reference to a “business store exchange” between Japan and Canada in 2024. But I did find several developments and agreements that may relate to what you meant. Here’s what seems relevant:

    Behind Japan-Canada business cooperation

    1. Strong trade relations
      • Japan is a key trading partner for Canada. There have been decades of bilateral trade in sectors like energy, agriculture, food, and minerals.
      • Canada exports products like canola, wheat, and fisheries to Japan; Japanese investment in Canada is also significant.
    2. Market expansion & brand promotion
      • Japanese companies are increasingly looking to expand globally. Canada offers a stable consumer market with an appetite for quality Japanese goods. These include fashion, cosmetics, lifestyle, and food.
      • On the flip side, Canadian exporters (food/agri, cleantech, creative industries) are seeking greater access into Japan and the Indo-Pacific region. Export Development Canada (EDC) opened a representation office in Tokyo in 2024. This office aims to help Canadian exporters navigate the Japanese market and beyond.
      • Japanese external trade agencies (like JETRO) have been promoting B2B matchmaking, showcasing Japanese products, and supporting Japanese firms exporting overseas.
    3. Financial/institutional cooperation
      • In September 2024, the Japan Bank for International Cooperation (JBIC) signed a Memorandum of Understanding (MOU) with Export Development Canada. The purpose is to strengthen cooperation in infrastructure. This includes resilient supply chains and the energy transition in the Indo-Pacific region.
      • These sorts of agreements help reduce risk and provide financing. They create frameworks that make it easier for companies, including retailers or product-store operators, to expand across borders.
    4. Cultural and promotional initiatives
      • There have been several trade missions, forums, and exhibitions (both physical and virtual). These events connected Canadian and Japanese companies. They range from creative industries to everyday consumer goods.
      • Programs such as the Canada-Japan Business Forum, Quebec-Japan Business Forum, and others have helped foster networking. They have promoted brands and increased cross-border retail interest.

    Why does This Cooperation make sense?

    • Consumer demand: Japanese brands are often associated with quality, reliability, and innovation. Canadian consumers (especially in urban centers) are increasingly receptive to foreign brands with strong appeal (beauty, lifestyle, kitchenware, fashion).
    • Diversification: Japanese firms may see Canada as a lower-risk market. They can test concepts, expand distribution, or build brand recognition in North America without immediately entering the US.
    • Leverage bilateral frameworks: Institutions like JBIC and EDC provide financial, advisory, and logistical support. They help mitigate the risks of international expansion.
    • Synergy in infrastructure and logistics: Improved trade agreements have enhanced shipping and logistical ties. As a result, moving goods across the Pacific is becoming easier. It is now done at a manageable cost and risk.
    • Mutual benefits: Canada gains access to Japanese innovation, consumer goods, and investment. Japan benefits from Canadian raw materials, agri-products, and market access.
  • Exchange participation to help the East Asian economy

    Exchange participation to help the East Asian economy

    Significant changes will probably occur in the international and geo-monetary scenes. These will follow Donald Trump’s confirmation as the US president in January. The East Asian economy will focus on the exchange dynamics. It will solidify its role as the central hub of the Asian production network. This includes China, Japan, and the Republic of Korea. It will advance globalization. It will also integrate the region’s economies. In such conditions, China, Japan, and the Republic of Korea can seize new opportunities for financial collaboration. This will drive their own development. They will also help shape a new global economic order that will support the East Asian economy.

    Exchange and financial participation among China, Japan, and the ROK has reached a critical point. They risk falling behind if they do not progress. The China-Japan-ROK participation system was established in 1999. Since then, financial and exchange collaboration between the three nations has yielded great outcomes. The worth of China-Japan-ROK exchange increased from $130 billion in 1999 to more than $700 billion in 2023. This clearly shows the importance of exchange participation to help the East Asian economy.

    In any case, China-Japan-ROK monetary and exchange participation remains unsteady. This is due to the absence of an institutional course of action and different variables. Starting around 2023. The three-sided exchange reliance proportion of Indra-local exchange was under 20%, far lower than that of the European Association (65.7 percent). And the US-Mexico-Canada Agreement (40.2 percent).
    Exchange participation to help East Asian economy

    Accordingly, China, Japan, and the ROK need to develop their monetary and exchange participation to answer the outside challenges mutually. Specifically, the three nations ought to facilitate their discussions for a three-sided international alliance (FTA). Research indicates that the establishment of a China-Japan-ROK FTA could potentially increase the GDP of the three nations by 0.5 to 3%.

    Laying out a China-Japan-ROK streamlined commerce region was first proposed at the three-sided pioneers’ gathering in 2002. Formal dealings on the issue began in November 2012. Be that as it may, a China-Japan-ROK FTA is yet to be settled even after 16 rounds of exchanges. The upgraded US organization is supposed to push forward with Trump’s “America First” policy. Therefore, the three nations ought to settle and ink a three-sided FTA for their common advantage. Moreover, they could begin the process by “accelerating exchanges for a three-sided FTA.” This was referenced in the Joint Statement of the ninth ROK-Japan-China Three-dimensional Culmination on May 27, 2024.

    The three nations could use the Regional Comprehensive Economic Partnership (RCEP) as a foundation. This would help them conclude and sign a high-level three-dimensional FTA. Thusly, they can acquire from the “early gathers” in different fields. A three-dimensional FTA will change merchandise exchange. It will enable the three sides to make significant gains from “zero-duty” inclusion.

    This applies to up to 95 percent of the exchanged products. There will be momentary periods, exemptions, or staged levy reduction plans for each country’s delicate items. A three-sided FTA will bring added gains for the three sides. They can create necessary records for crucial sectors. These include medical care, elder care, natural insurance, and auto and electronics manufacturing. Moreover, such exchange participation will help the East Asian economy significantly.

    The three sides can enhance their interactions by adjusting their principles. They can use the Extensive and Moderate Arrangement for Transoceanic Organization as a reference. This can help set monetary and exchange rules to better protect intellectual property rights. It can also increase government procurement and safeguard the environment. Furthermore, they can accomplish shared benefit results. They should immediately seize the broad opportunities for collaboration.

    These opportunities exist in fields like data and communications technology. Opportunities also lie in the advanced economy. They can expand on the RCEP’s online business rules to support cross-border information flows. This will ensure non-biased treatment for digital products and establish high-standard digital trade rules. Indeed, robust exchange participation will help the East Asian economy by fostering these opportunities.

    • Certainly, more profound China-Japan-ROK participation in exchange will positively impact the RCEP. In 2023, the Gross domestic product of China, Japan, and the ROK accounted for over 80% of the RCEP district. Their manufacturing value added was significant. The value of their commodities and imports accounted for over 70% of the area’s total. Likewise, the three nations contributed around 70% of Asia’s development and 36% to worldwide development. The next three to five years are crucial for fully executing the RCEP rules. China, Japan, and the ROK should take the lead. They need to utilize the RCEP structure to achieve breakthroughs on central issues. These issues include free trade, market access, and the free movement of production factors. This will increase profits for the three nations. It will also strengthen the district’s business chains. Exchange participation will help the East Asian economy.


    China, Japan, and the Republic of Korea should take steps to further open up their economies. They should do this specifically with members of the Association of Southeast Asian Nations. This includes creating opportunities for increased economic collaboration. For instance, the three nations ought to expand the inclusion of “zero-levy” merchandise. They should shorten the transition period for duty decreases. Their ventures should bring in additional top-notch labor and products from ASEAN.

    Organizations should be encouraged to strengthen the business and supply chains within the RCEP region. The RCEP’s rules of origin need to be fully implemented. The threshold for ASEAN enterprises exporting goods to China, Japan, and the ROK should be lowered. These measures indicate a clear path towards using exchange participation to help the East Asian economy.

    Exchange participation to help East Asian economy

    There is enormous potential for the advancement of China-Japan-ROK exchange administrations. China is the biggest assistance exchange market for Japan and the ROK. Given the complementarity of the three economies, Japan and the ROK can profit from expanded exchange with China. In the following five years, China’s modern changes will create significant interest. Over the next 10 years, these changes will increase demand for administrations from Japan and the ROK. Utilization and metropolitan provincial primary changes will also make assistance exchange another driver for development in the region.

    The value of administration exchange among China, Japan, and the ROK grew from 2013 to 2023. It increased at an average pace of 4. This period shows a significant increase in value. The average yearly growth was 4.5 percent. This rate is 2 percent higher than the development pace of merchandise exchange. In 2021, the portion of exchange administrations was 7.8 percent in China-Japan exchange, 8.22 percent in China-ROK exchange, and 11.06 percent in Japan-ROK exchange, all underneath the worldwide normal of 21.4 percent, featuring the colossal space for additional development. If the portion of services exchange among the three countries reaches the global average, a new market valued at $1.4 trillion could emerge.

    Given their quickly rising aging populations, China, Japan, and the ROK should consider creating a standard medical services market. This collaboration would be for their shared benefit. Since China’s market for medical services in 2030 is supposed to be worth 16 trillion yuan ($2.20 trillion). Restrictions on fully foreign-owned hospitals have been lifted in seven regions. They have also been lifted in urban communities in the first half of this current year. China is expected to introduce more stable policies. These changes create new opportunities for Japanese and ROK investments in the healthcare sector.

    The critical factor is to further open up business sectors. Advancing better quality opening-up for administrations exchange and speculation is a challenge for China, Japan, and the ROK. The ROK’s administration exchange restriction index exceeds the OECD average by 80%. The OECD considers Japan’s index similar to its average. However, it’s double that of major developed countries like the US, the United Kingdom, Germany, and France. China has fully opened up its assembly area. However, it still has space to further open up its service area.

    Exchange participation to help East Asian economy

    This calls for more profound collaboration among the three nations. They need to plan a straightforward negative rundown for cross-line administrations exchange. This will significantly lessen obstructions in the area. The three nations should take steps to align their rules, regulations, and standards for their service markets. This alignment will attract more investments.

    China, Japan and the ROK can leverage their strengths in Research and Development. They can also utilize their skills in design and manufacturing. Together, they can establish a triangular manufacturing industry relationship. This aims to speed up the execution of trade strategy areas. These include production equipment and technical services. They also cover joint Research and Development and the free movement of advanced professionals within the manufacturing sector.

    One-sided limitations that abuse market standards are ineffective as well as destructive for the regional business and supply chains. In addition, they will expand the participation costs. That colossal potential remains undiscovered. This is evident from Japan’s exports of semiconductor manufacturing equipment to China. In the January-April period, these exports jumped by 95.4 percent year-on-year. This represents 50% of its complete products in this area.

    With respect to the ROK, its memory semiconductor exports to China from January to September increased by 40% year-on-year. These commodities address 37% of its total memory semiconductor trades. China, Japan, and the ROK should focus on their own advantages. They should also seek broader market improvement. Enhancing their essential independence is crucial. They should avoid “decoupling” or breaking the supply chains. They should also advocate for greater market openness to increase shared benefits.