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43% jump in trade between Cambodia, Indonesia in Q1
Trade between Cambodia and Indonesia rose by 43.2 percent to $304 million in the first quarter of this year, according to a recent General Department of Customs and Excise report.
The trade has just received a boost following Indonesia AirAsia started operating direct flights between the two countries. Apart from trade, direct flights can also enhance tourism, investment and other economic activities.
The trade volume between the two countries rose during the first quarter of the year compared to the same period last year. From January to March 2023, Cambodia exported $12 million worth of goods to the ASEAN’s largest economy, a 74 percent increase over the same period last year, the report read.
Meanwhile, the Kingdom’s imports increased by 42 percent to $292 million from Indonesia.
Cambodia and Indonesia have also discussed further cooperation in trade, investment and tourism by promoting the export of Cambodian agricultural products to the Indonesian market.
Indonesia AirAsia officially launched the direct flight from Jakarta to Phnom Penh on April 10 at the Indonesian Embassy in Phnom Penh.
With direct flights, it is hoped that the number of tourist visits will continue to increase. Lim Heng, vice president of the Cambodia Chamber of Commerce, said that both countries have great potential in developing the tourism sector further.
“Direct flights will play an important role in attracting tourists and facilitating travels of businessmen and investors to Cambodia,” Heng told Khmer Times.
At a meeting with Indonesia’s senior officials in March, Cambodia’s Minister of Commerce Pan Sorasak urged the Indonesian side to import agricultural products from the Kingdom such as rice, cassava, cashew nuts and mangoes.
He also urged Indonesian investors to consider investing in agriculture, such as setting up rice mills, processing cassava into medicinal products and packaging them for domestic use, and importing mangoes and fruits.
The Indonesian side noted that Cambodia has developed a strong and resilient economy and expressed its intention to strengthen cooperation with the Kingdom to boost bilateral trade, investment and tourism.
Source: https://www.khmertimeskh.com/501277914/43-jump-in-trade-between-cambodia-indonesia-in-q1/