Bilateral trade between Cambodia and Japan rose 2.1 percent to $181 million in January this year, compared to the same month in the previous year.
The Japan External Trade Organization (JETRO) figures showed that Cambodia exported $142 million worth of goods to the East Asian nation, a 1.7 percent increase compared to the same month last year.
The Kingdom imported $39 million worth of goods from Japan, a 3.5 percent year-on-year increase.
JETRO listed garments and electrical and electronic components as key Cambodian exports to Japan; and machinery, electronics and high-tech products as the main imports.
The Cambodian Ministry of Commerce has stated that the Kingdom aims to establish bilateral free trade agreements with its major trading partners, including Japan.
In February, the Ministry of Commerce and the Japan-Cambodia Association discussed studying the possibility of establishing a free trade agreement to strengthen cooperation between the two countries and promote a better business environment.
Commerce Minister Pan Sorasak said Japan had made significant contributions to Cambodia’s economic development through the rehabilitation of infrastructure, the provision of human resource development programmes, the strengthening of economic relations in trade and tourism and investments in other sectors.
He said that Japanese investors have also brought the flow of technology, knowledge, and skills from Japanese foreign direct investment (FDI) and Official Development Assistance (ODA).
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Author: Chea Vanyuth
Source: Khmer Times
Publication date: 09 March 2022