ASEAN HEADLINE-BUSINESS | Cambodia’s trade with ASEAN up 11.6 per cent

Sihanoukville Port in Cambodia. PHOTO: AFP

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PHNOM PENH (XINHUA) – Cambodia’s trade with its fellow ASEAN member states hit USD7.96 billion during the first half of 2024, up 11.6 per cent from USD7.13 billion over the same period 2023, said a report from the Ministry of Commerce yesterday.

The kingdom exported products worth USD2.68 billion to other ASEAN countries during the January-June period this year, up eight per cent from USD2.48 billion over the same period last year, the report said.

Meanwhile, the country’s import from its fellow ASEAN countries was valued at USD5.28 billion, up 13.5 per cent from USD4.65 billion, it added.

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The report said Cambodia’s trade volume with the ASEAN accounted for 30.2 per cent of its USD26.3-billion total trade volume during the first half of this year. The country’s top five trading partners in ASEAN are Vietnam, Thailand, Singapore, Indonesia, and Malaysia, the report added. Cambodian Prime Minister Hun Manet said the country stood as a vibrant partner within the ASEAN countries. “Cambodia’s strategic membership in key regional and global trade agreements, including ASEAN and the World Trade Organization, positions it as a highly integrated player within the dynamic global market,” he said in a recent speech.

He added that made-in-Cambodia products, encompassing garments and bicycles, are currently recognised in ASEAN and worldwide for their quality and competitive pricing.

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