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Cambodia’s international trade up 16.7pc in January

XINHUA – Cambodia’s foreign trade volume hit USD4.05 billion in January 2024, up 16.7 per cent from USD3.47 billion in the same month last year, an official report showed yesterday.

The kingdom’s total exports amounted to USD1.96 billion in January this year, up 27 per cent compared to January last year, and total imports reached USD2.09 billion, up 8.7 per cent, according to the General Department of Customs and Excise’s report.

China is the biggest trading partner of Cambodia, followed by Vietnam, the United States, Thailand and Japan, the report said.

Cambodia exported mostly garment, footwear and travel goods products, bicycles, dry rubber, milled rice, bananas, cashew nuts, mangoes and longans, as it imported raw materials for garment, footwear and travel goods, petroleum, construction materials, automobiles and motorcycles, consuming products, pharmaceutical products and cosmetics.

The Cambodian Ministry of Commerce’s secretary of state and spokesperson Penn Sovicheat said the Regional Comprehensive Economic Partnership (RCEP) agreement and the Cambodia-China Free Trade Agreement (CCFTA) have given a boost to this trade growth.

“With preferential tariffs provided by RCEP and CCFTA, we’re confident that our exports to international markets, particularly to China and other RCEP member countries, will continue to rise in coming months and years,” he told Xinhua.