Search

Search form

Logo of Phnom Penh Post newspaper Phnom Penh Post - Trade with Laos rose 4pc in 2009

Trade with Laos rose 4pc in 2009

Trade with Laos rose 4pc in 2009

OFFICIALS from Cambodia and Laos said Wednesday they were optimistic about the future of bilateral trade following a rise of 4 percent last year, despite the onset of the global economic crisis.

Official figures released by the Laos Embassy in Phnom Penh showed that trade between the two ASEAN neighbours remained very low, however, at just US$274,780 in 2009 compared to $264,180 the previous year.

“Our trade will get stronger,” the Laos Embassy's First Secretary Kengchai Sixanonh said Wednesday, adding that there was considerable scope for shipments in each direction, particularly in agricultural products.

However, a 2008 trade surplus for Cambodia of $38,620 turned into a tiny deficit of $8,880 last year. And although trade improved in 2009 it was still down on the bilateral record between the two achieved in 2007: $295,037.

“Trade between us is not as much as with Vietnam and Thailand,” Nguon Meng Tech, director general of the Cambodian Chamber of Commerce, said Wednesday.

Trade will pick up, he added, especially when the free trade area commences in 2015.

RECOMMENDED STORIES

  • Rainsy and Sokha ‘would already be dead’: PM

    Prime Minister Hun Sen on Sunday appeared to suggest he would have assassinated opposition leaders Sam Rainsy and Kem Sokha had he known they were promising to “organise a new government” in the aftermath of the disputed 2013 national elections. In a clip from his speech

  • Massive ceremony at Angkor Wat will show ‘Cambodia not in anarchy’: PM

    Government officials, thousands of monks and Prime Minister Hun Sen himself will hold a massive prayer ceremony at Angkor Wat in early December to highlight the Kingdom’s continuing “peace, independence and political stability”, a spectacle observers said was designed to disguise the deterioration of

  • PM tells workers CNRP is to blame for any sanctions

    In a speech to workers yesterday, Prime Minister Hun Sen pinned the blame for any damage inflicted on Cambodia’s garment industry by potential economic sanctions squarely on the opposition party. “You must remember clearly that if the purchase orders are reduced, it is all

  • Ex-RFA journos accuse outlet

    Two former Radio Free Asia journalists held a press conference yesterday claiming they are each owed $28,000 by the US-funded radio broadcaster, which shuttered its in-country operations in September amid a government crackdown on independent media. The journalists, Sok Ratha and Ouk Savborey, maintained they organised