PHNOM PENH: Prime Minister Hun Manet signed an agreement to reduce the export tax on natural stone products, both processed and unprocessed by 20 to 25%, along with removing all taxes on natural stone goods processed from Cambodia on 12 tariff lines as well.

In the decision dated September 29, 2023, the PM reduced the export tax on unprocessed natural stone from 30% to 10% and reduce the export tax rate on unprocessed natural stone in tablet format from 30% to 5%. Meanwhile he got rid of the 20% tax on processed natural stone, lowering it to 0%. Cambodia exports a variety of gemstones and natural stone including granite, basalt, sandstone, and other stones used in monuments and construction. According to Trading Economics, Cambodia exported $1.04 million worth of stone to China in 2021, down from about $1.3 million in 2020.

The PM said that his decision was made following a request made by a stone exporter from Cambodia when he attended the ASEAN-China Expo on September 17. He said the move is meant to “ease the burden on natural stone exporters and help the competition of Cambodian natural stone products in the international market.”