Logo of Phnom Penh Post newspaper Phnom Penh Post - Trade with Indonesia increasing 20 percent per year, officials say

Trade with Indonesia increasing 20 percent per year, officials say

Trade with Indonesia increasing 20 percent per year, officials say

The government hopes that stronger ties with Indonesia will replace  trade with Thailand that has been disrupted by the border dispute

A COMMERCE official said Sunday that bilateral trade between Cambodia and Indonesia has risen 20 percent annually since 2006.

Mao Thora, a secretary of state at the Ministry of Commerce, made the announcement during an Indonesian Trade and Tourism Promotion exhibition, saying year-on-year trade has reached US$120 million and could offset trade losses with Thailand amid an ongoing border crisis and escalating political turmoil in Bangkok.

"Indonesia is responding to Cambodian market needs with high-quality products, particularly construction materials, cosmetics, food and medicines," Mao Thora said.

He added that Cambodia hopes to boost its exports to Indonesia to balance the trade relationship in coming months.

The exhibition, which began on Sunday and runs through Wednesday, aims to highlight Indonesia's cultural heritage as well as its trade opportunities, Mao Thora said.

Harry Warganegara, vice chairman of the Indonesian Young Entrepreneurs Association, said Indonesian businesses are increasingly looking to Cambodia for investment opportunities.

"I believe that Cambodia will be one of the new tiger economies in the region, so we would like to grow with them," he said.

Warganegara said Indonesian products may be unfamiliar to Cambodian consumers, but that their quality and cost made them competitive with other foreign goods.

He added that the lack of economic safeguards has not deterred Indonesian investment in Cambodia, as companies see the potential for continued trade growth.

Trade between Cambodia and Thailand has slowed since a border standoff over disputed territory began in July.

Officials expect further losses following the closure last week of Thailand's two main airports after anti-government protestors stormed the terminals and rebuffed attempts by police to remove them.

MOST VIEWED

  • Massive stingrays may live in Mekong’s deep pools

    US scientists have suggested that unexplored deep pools in the Mekong River in an area of Stung Treng could potentially be home to significant populations of giant freshwater stingrays, one of the world’s largest freshwater fish species. This comes as a fisherman hooked a 180

  • CCC team off on US business trip

    The Kingdom’s leading economists and private sector representatives have called on the US to renew its tax preferential status for Cambodian exports, as a Cambodia Chamber of Commerce (CCC) delegation departed for a weeklong business visit to the US, where they will meet with

  • PM takes time to meet, greet Cambodians living in the US

    After landing in the US ahead of the ASEAN-US Special Summit, Prime Minister Hun Sen was received by over 1,000 Cambodian-Americans including political analysts who welcomed him with greetings, fist bumps and selfies. Hun Sen also met with analyst Mak Hoeun, who had allegedly spoken ill

  • Khmer cinema classics back on big screen for free at WB Arena’s outdoor movies series

    On a recent Saturday evening at WB Arena, Bunsong was enjoying a tasty BBQ meal with his family after work on the long tables that had been arranged out in front of the restaurant as they watched a Khmer action movie on a big outdoor

  • PM heads to Washington for ASEAN-US special summit

    Regional and international issues and how to bring the ASEAN-US partnership to another level will be discussed at length as Prime Minister Hun Sen and his ministers arrive in Washington, DC, for a special summit on May 12-13. During the trip, Hun Sen and ASEAN

  • National Assembly refutes EU resolution

    The National Assembly (NA) has hit back at a European Parliament resolution condemning the political and human rights situation in Cambodia, calling it another display of the Parliament’s “double standards”. Key points of the resolution include a warning that the Parliament could exclude the