Cambodia’s export to RCEP member countries increases by 11 percent in first quarter
Cambodia’s exports to the member countries of the Regional Comprehensive Economic Partnership (RCEP) totaled $1.956 billion in the first three months of this year, up 11 percent over the same period last year, according to data from the Ministry of Commerce.
For the January-March period, Cambodia’s top four export destinations were Vietnam, China, Thailand, and Japan, the data shows, adding that the Kingdom shipped $759 million worth of products to Vietnam, $322 million to China, $318 million to Thailand, and $306 million to Japan.
The Regional Comprehensive Economic Partnership was put into force early this year.
The regional trade pact comprises 15 Asia-Pacific countries including 10 member states of the Association of Southeast Asian Nations (ASEAN) – Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam – and their five trading partners, namely China, Japan, South Korea, Australia and New Zealand.
The two-way trade between Cambodia and RCEP member countries was amounted to $8.062 billion, inching down 2 percent over the same period last year, read the data.
Regionally, Cambodia exported $1.172 billion worth of goods to ASEAN member states, a year-on-year increase of 12 percent. Chea Vannak – AKP