[PHNOM PENH POST]
Bilateral trade between Cambodia and South Korea jumped more than 40 per
cent year-on-year through September, according to the Korea Trade
Investment Promotion Agency.
Total trade between January and
September reached $387 million, according to KOTRA, up 45 per cent from
$267 million during the year-ago period.
Cambodia exported US$64
million worth of goods to South Korea, including crude rubber,
agricultural products and apparel, a 100 per cent gain from $32 million
in the first nine months of 2010. At the same time, South Korea’s
shipments to the Kingdom totalled $323 million, a year-on-year increase
of 37 per cent from $235 million.
KOTRA director-general Gwang-Ho
Lee attributed the gains to both countries’ expanding economies and
Cambodia’s growing importance among Korean investors.
“Now we
see many Korean businessmen have good contact with local partners here.
Cambodia is becoming very well-known to Korean companies,” Lee said.
Korean
businesses wanted Cambodian commodities such as rubber and metal ores,
and more and more Korean products were being sold in the Kingdom, he
added. Korea’s main exports to Cambodia are textiles and fabrics,
consumer electronics, vehicles and tobacco.
Kong Putheara,
director of the Ministry of Commerce’s statistics department, pointed to
the benefits for Cambodia in trading with a larger economy such as that
of South Korea.
“It is a good thing, because our policy is that
the government is trying as much as it can to enlarge business
activities with every country in the world,” he said, adding that trade
growth also created jobs and boosted domestic incomes.
About 600
Korean companies were doing business in Cambodia in real-estate
development projects, garment manufacturing factories and agricultural
development, Gwang-Ho Lee said previously.
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