Cambodia to Double Organic Rice Exports in 2015

One of Cambodia’s two only organic rice exporters is preparing to double its organic rice exports this year as demand for organic rice steadily increases, according to The Phnom Penh Post.

The Cambodian Center for Study and Development in Agriculture, CEDAC, reportedly shipped 540 tons of organic rice to international buyers in 2014 – a 20 percent increase over 2013. CEDAC is set to export 1,000 tons in 2015 to fill the demand in the international market.

Production in organic rice is still quite lucrative because “the price of organic rice is higher and also more stable than non-organic rice in the marketplace,” said CEDAC export officer Sou Sarorn.

Chaninat and Leeds’ corporate attorneys are experienced Thailand FDA lawyers who specialize in business litigation for national and international clients. 

Still, senior advisor to the Cambodia Rice Federation, David Van, said the strict regulations and extended grow-time for producing organic rice combined with the lack of education on the matter makes it difficult to find farmers willing to commit to “going green,” and makes large-scale organic rice production limited.  

In 2014, organic rice exports represented only a fraction of Cambodia’s overall 380,000 tons of rice exports.

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World Bank Competition: BRICS Nations Create New Bank and $100 Billion Reserve

According to the Bangkok Post, the BRICS nation’s leaders introduced their international financial institutions made to rival the World Bank and the International Monetary Fund. 

The New Development Bank and $100 billion Contingent Reserve Arrangement are equally backed by each nation—Brazil, Russia, India, China, and South Africa—regardless of size, population, or GDP. Together these countries represent 40 percent of the world population and a fifth of the global economy.

The Thailand company lawyers at Chaninat & Leeds have decades of experience in business litigation to help companies throughout Thailand achieve a variety of business obligations and needs.  

The bank, which will be headquartered in Shanghai, will help emerging and developing nations mobilize resources for infrastructure and sustainable development projects, according to the BRICS statement.

The need for these new international financial institutions rose from a need to “increase the representations and voice of developing countries," said Chinese President Xi Jinping, reports the Bangkok Post.

Read the full story here.

Rise of the Yuan: Bank of Thailand Encourages Trade in Chinese Currency

China is Thailand’s number one trading partner, and now Thai businesses are being encouraged to use the yuan in trade and investment, according to The Nation. 

The Bank of Thailand recently expressed public support of using the Chinese currency at a bank seminar.

The Nation cited Chantavarn Sucharitakul, BOT assistant governor for the Financial Markets Operations Group, as saying “the BOT believed that the use of the yuan would provide more options in term of payments when doing business with China.”

Several of the benefits reported by The Nation of businesses trading with China in yuan include better exchange rates and lower prices because of lower risk, more opportunity for trade with small and medium enterprise in China, and faster payments from Chinese importers. 

The Thai company attorneys at Chaninat and Leeds are experienced professionals assisting with company registration and business litigation in Thailand.

Thailand’s trade with China increased from $57 billion USD in 2011 to $65 billion in 2013, and the international influence of the yuan is increasing as well according to a May SWIFT report.

Read the full story here.

 

 

Thailand Food Drug Administration (FDA) Application Process

One of the many goals of the ThailandFood and Drug Administration (FDA) is testing, and assuring that food, drugs, and cosmetics products are safe for consumers. To do this the FDA requires approval for products based on efficacy and usage claims, from companies who wish to sell their products in Thailand through a registration process. In the following video, Anna from Chaninat& Leeds Attorney’s at Law explains the process of registering for a license with the Thai FDA for businesses that want to sell products in Thailand. The Thai FDA registration process, varies with certain products, for example, beauty products, generally takes one business day for most approvals. Products that are tested and endorsed by the FDA will usually say so on the label.  

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