[PHNOM PENH POST]
Cambodia's total exports rose more than 40 per cent year-on-year through
October, carried by strong growth in agriculture shipments.
Total
exports reached US$4.05 billion in the first 10 months of 2011 compared
with $2.82 billion during the same period last year, an increase of 44
per cent, data from the Ministry of Commerce showed.
Agricultural
exports hit $330 million, more than doubling year-on-year, according to
the data. Garment exports totalled $3.47 billion, increasing about 34
per cent. Trade preferences, including duty-free treatment, on garment
exports to the European Union accounted for a 60 per cent jump in
garment shipments to countries in the union.
Garment exports to
the United States grew by about 10 per cent, hitting nearly $1.7 billion
by the end of October, according to ministry data.
It was trade
preferences in Europe, coupled with new markets in China and Japan, that
pushed export growth through the 10-month period, Ministry of Commerce
secretary of state Ok Boung said yesterday.
Recent agricultural
exports show progress toward the government’s goal of exporting 1
million tonnes of milled rice by 2015, he claimed.
“We have had
more chances to export not only garments and textiles to the EU, but we
can also export agricultural products to them and some Asia markets
because they’ve given us duty-free treatment,” Ok Boung said.
“If we start to export more and more [milled rice] now, I believe we’ll reach the government’s milled rice export goal.”
Funds
for agricultural products are still constrained and will require
participation from both local and foreign investment, especially in rice
production, Ok Boung added.
Nguon Meng Tech, director general
of the Cambodia Chamber of Commerce, said yesterday that exports from
Cambodia were shifting from raw commodities to processed goods.
“We
usually export natural rubber, but now we can export milled rice,
cassava and more,” he said, adding that processing capacity still needs
to be strengthened.
Support from the government in reducing
paperwork and unnecessary fees has made Cambodia’s investment
environment more attractive, he claimed.
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