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Deadly Collision Claims 67 Lives in U.S. Air Disaster | At Least 30 Dead and Many Injured in Stampede at Maha Kumbh Mela in India | Chinese President Xi Jinping Affirms Cambodia's Role as a Key Partner in China’s Diplomatic Strategy | Xi Jinping Concludes State Visit to Cambodia, Strengthening Bilateral Ties | Chinese President Xi Jinping Concludes Successful State Visit to Cambodia | Chinese Ambassador: US-China Trade Tensions Harm Developing Nations; President Xi Urges Investment in Cambodia and Expanded Market Access | Japanese Maritime Self-Defense Force Ships Bungo and Etazima Dock at Ream Sea Base for Four-Day Visit | Prime Minister Hun Manet Expresses Displeasure Over Criticism of Chinese Investments During Kampot International Tourist Port Inauguration | Asian Development Bank Collaborates with Cambodia on New Development Projects Worth Over $1 Billion |

Cambodia's Exports Thrive Amid Global Challenges

  • Posted Dec 21, 2023 11:51 by Hun Sirivadh
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Phnom Penh: Despite global geopolitical and trade tensions, Cambodia's exports continue to flourish, a testament to the nation's resilience in the face of adversity, according to Minister of Commerce, Ms. Cham Nimul.

Speaking at the annual meeting of the Ministry of Commerce on Thursday, December 21, 2023, Minister Cham Nimul expressed her pride in Cambodia's trade performance. She revealed that in the first 11 months of 2023, Cambodia's international trade reached a total value of $43.52 billion, with exports accounting for $21 billion, marking a notable 4.08% increase compared to the same period in 2022.

Minister Cham Nimul credited this export growth to the Royal Government of Cambodia's sound policies that have provided support to small and medium-sized enterprises (SMEs), ensuring the continuity of business operations, investments, and employment for workers and farmers.

Highlighting the role of Cambodia as a member of the Regional Comprehensive Economic Partnership (RCEP), she noted that RCEP plays a significant role, contributing to more than 61% of the total trade volume exceeding $26.47 million.

The bulk of Cambodia's exports consist of garments, clothing, footwear, bags, electronics, and bicycles, with key markets including the United States, Canada, the European Union, ASEAN, Japan, China, South Korea, the United Kingdom, and Australia.

Looking ahead to 2024, Minister Cham Nimul outlined plans to further bolster the business sector by enhancing the quality of human resources, deepening reforms, improving public services, stabilizing prices, stimulating domestic work, and continuing to revise trade-related laws and regulations. These measures are expected to create a favorable environment for business and investment while enhancing Cambodia's competitiveness in international markets.


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