Cambodia to End Customs Fees for Milled Rice Exports Starting May 1, 2014

[geovalin]

Cambodia will end customs fees for milled rice exports with effect from May 1, 2014, in order to reduce production costs and boost Cambodia's competitiveness in the international market, according to local sources.

Local sources say Cambodia's Ministry of Economy and Finance has taken the decision to help the country reach one million tons rice exports by 2015. Rice sector experts say the government's decision would help cut production and export costs by at least $15 per shipping container.

The move is the latest in the steps being taken by the Cambodian government to streamline export procedures, and to reduce corruption in export formalities, as well as automate export processes, according to local sources. The President of the Federation of Cambodian Rice Exporters (FCRE) said the decision would create an easier scheme for doing business, though the government may lose a small amount of revenue from customs fees. He noted that it will also save a lot of time and money for rice exporters.

Cambodia exported 84,330 tons of rice in the first quarter of 2014, down about 11% from about 95,228 tons exported during the same period in 2013. Cambodia exported about 378,856 tons of rice in all of 2013, up about 70% from about 205,717 tons exported in 2012, according to data from the Secretariat One Window Service (SOWS-REF) for rice export.

http://oryza.com/news/rice-news/cambodia-end-customs-fees-milled-rice-exports-starting-may-1-2014