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Cambodia’s export to Japan jumps 11.4%
Cambodia exported $1.81 billion worth of products to Japan in the first 11 months of last year, a year-on-year increase of 11.4 percent, according to the data from the Japan External Trade Organization (JETRO) yesterday.
From January to November, Cambodia’s import from the East Asia nation was valued at $473 million, a decrease of 10 percent compared to the same period last year.
The Kingdom’s trade surplus with Japan is pegged at $1.33 billion.
The country’s main export to Japan are garments, bags, footwear, furniture, cosmetics, paper and office supplies, and leather goods.
Cambodia imported machinery, automobiles, electronics, furniture, fabrics and plastics from Japan.
Cambodia looks upon Japan as a prioritised trade partner. Talks on a bilateral free trade agreement
(FTA) to be established, according to the Ministry of Commerce.
The ministry announced its plan to form a working group to facilitate the negotiations of the bilateral FTA between Japan and Cambodia.
The talks are set to be conducted soon as the Kingdom has already inked two bilateral FTAs with China and South Korea.
Prime Minister Hun Sen has lauded the rising bilateral trade volume between the two countries through Japanese investment in Cambodia and export to Japan.
“I am indeed very happy to work with my Japanese counterpart. We have a lot of things to do together. However, what we want most is more Japanese investors in Cambodia,” he said at the 11th Anniversary Ceremony of Minebea (Cambodia) Co Ltd in the capital on December 1.
The ‘comprehensive strategic partnership’ between both countries is expected to attract more Japanese investment and open a wider Japanese market for Cambodian products.
Source: https://www.khmertimeskh.com/501216672/cambodias-export-to-japan-jumps-11-4/