July 13, 2011

Cambodia's trade with Malaysia grows sharply in 1st four months


PHNOM PENH, July 13 -- The bilateral trade between Cambodia and Malaysia increased by 75 percent in the first four months of this year, compared to the same period last year, said a senior commerce official on Wednesday.

From January to April this year, the two countries'total trade volume amounted to 100.6 million U.S. dollars, up 75 percent from 57.5 million U.S. dollars in the corresponding period last year, Pan Sorasak, secretary of state for the Ministry of Commerce, said during opening the 2nd Malaysia Solo Fair 2011 in Phnom Penh.

Cambodia's exports to Malaysia worth 18.6 million U.S. dollars, increased nearly five folds from 3.2 million U.S. dollars, and Cambodia's imports from Malaysia reached 82 million U.S. dollars, up 51 percent from 54.4 million U.S. dollars.

Cambodia's main imports from Malaysia were textile and clothing, processed food, chemical products, cosmetic products, manufactures of metal, machinery, beverage, tobacco and electronic products, while Cambodia's exports to Malaysia were crude rubber, textile and clothing, manufacture of metal, and palm oil.

Sorasak attributed the increase to a longstanding and healthy bilateral relationship between Cambodia and Malaysia under the ASEAN spirit.

"I believe that as the same ASEAN members, Cambodia and Malaysia will continue to pursue active trades by utilizing ASEAN Free Trade Agreement (AFTA) as tools for trade developments, and Cambodia expects to see stronger growth of trade with Malaysia this year," he said.

In 2010, the bilateral trade between Cambodia and Malaysia worth 229.7 million U.S. dollars.

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