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Cambodian-Korean trade on the increase

Cambodian-Korean trade on the increase

THE value of bilateral trade between Cambodia and South Korea has risen 38 percent in the first two months of this year, compared to the same period of 2010.

Official figures from Korea Trade-Investment Promotion Agency (KOTRA) showed trade had risen to US$69.05 million in the first two months, up from $50.13 million the year prior. Cambodia’s exports rocketed 65 percent to $10.18 million while Korean imports rose to $58.87 million.  

KOTRA’s official said the growth was mainly due to efforts by both governments to boost trade.  

“Both governments are trying to strengthen and facilitate the import-export process,” said Gwang-Ho Lee, KOTRA’s general director.

“We have promoted many trade activities,” he added, stating that he will hold an export seminar next month.

Cambodia’s main exports to Korea were crude rubber, agricultural products, apparel and clothing accessories, ores and scrap metal. Korea’s main exports to Cambodia consisted of raw materials for the garment industry, vehicles and tobacco.

Trade between Cambodia-Korea rose more than 29 percent year-on-year in 2010 to $376.442 million, according to KOTRA’s data.

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