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Kingdom’s bilateral trade with UK climbs

Kingdom’s bilateral trade with UK climbs

BILATERAL trade between Cambodia and the United Kingdom is on track to exceed last year’s total, marking further growth in a relationship that has remained resilient throughout the economic crisis, new data show.

Trade between the UK and Cambodia has increased steadily since 2008, even during the global financial crisis when trade with many of Cambodia’s partners plummeted.

In 2009, total trade between the nations was worth US$272.25 million – a 41 percent increase on the 2008 total of $191.49 million.

Trade growth is set to continue in 2010. Statistics released by the British embassy in Phnom Penh on Monday state that trade was 21 percent greater in the first four months of this year when compared to the same period last year, reaching $90.54 million up from $82.27 million.

The import-export breakdown reveals UK imports from Cambodia increased 18 percent, to $93.93 million from $79.75 million, while UK’s exports more than doubled, rising from $2.48 million to $5.53 million.

Neng Vannak, spokesman of the British Embassy, wrote in an email Tuesday that British companies were active in finance, construction, agriculture and garments.

He said the main products the UK sought from Cambodia were clothing and footwear, while the UK’s main exports to Cambodia were machinery, equipment and livestock.

Nguon Meng Tech, director general of Cambodia Chamber of Commerce said that although trade levels are still relatively low: “If we can increase cooperation it would be good for us.”

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