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Cambodia-EU Trade Relations Surpass 5 Billion Euros

Phnom Penh, June 13, 2024: Senate President Hun Sen recently met with Igor Driesmans, the European Union Ambassador to Cambodia, to discuss ongoing cooperation and the robust trade relationship between Cambodia and the EU.

During their meeting, Ambassador Driesmans highlighted the enduring partnership between the EU and Cambodia, noting that trade exchanges now exceed 5 billion euros. He referenced the significant outcomes of the European Commission’s visit to Cambodia last March, which included several agreements aimed at enhancing economic, trade, and investment ties.

Expressing satisfaction with the thirty-year relationship with the EU, Hun Sen credited the EU's support for playing a crucial role in Cambodia's post-conflict reconstruction. He detailed how EU aid has substantially contributed to the nation's recovery, supporting infrastructure development, agriculture, human resource development, and demining initiatives.

Despite the recent adjustments in preferential tariffs, trade between Cambodia and the EU continues to show remarkable growth. In the first five months of 2024 alone, trade reached $1.56 billion, marking a significant increase compared to the same period last year. According to the Ministry of Commerce, Cambodia’s exports to the EU grew by 11.33% during this period, with total exports and imports expanding by 4.18% to $1.88 billion.

Germany and Spain remain Cambodia’s largest trading partners within the EU, commanding the highest bilateral trade volume of $389 million. Cambodia’s exports to the EU predominantly include textiles, footwear, bicycles, food products, rice, and other agricultural goods.

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