AKP Phnom Penh, March 05, 2021 --

The bilateral trade between Cambodia and China last year was valued at US$8,118 million, sliding down 5.2 percent compared to a year earlier. 

According to the data from the Ministry of Commerce, Cambodia’s exports to the world’s second largest economic nation in 2020 saw a year-on-year increase by 8.1 percent to US$1,086 million.

Meanwhile, Cambodia spent roughly US$7,031 million on goods imported from China, down 6.9 percent compared to that in 2019.

The decrease in imports from China was mainly due to the slowdown of importing raw materials for garment factories because of the lockdown or restriction measures imposed to contain the COVID-19 spread. 

Cambodia mostly exported agricultural products including milled rice, mangoes, and cassava to China, and imported industrial products, raw materials, and construction materials from China. 

The two countries have placed high hope on the increase of their trade exchange after their bilateral FTA was signed last October.

The agreement is expected to be ratified by the governments of both countries within this year, aiming to make it come into effect as early as possible.

It also marks a major milestone in bilateral economic and trade relations and is expected to boost the bilateral ties to a new level and bring more benefits to the enterprises and the people of Cambodia and China. 

By Chea Vannak