Logo of Phnom Penh Post newspaper Phnom Penh Post - Trade with Japan sees increase of nearly 5%

Trade with Japan sees increase of nearly 5%

Trade with Japan sees increase of nearly 5%

Trade volume between Cambodia and Japan reached over $586 million in the first quarter of this year, up 4.90 per cent year-on-year, despite the Covid-19-fuelled demand and supply shocks reverberating across the global economy, a report from the Japan External Trade Organisation (Jetro) shows.

Cambodian exports were valued at more than $475 million during the period, an increase of 4.4 per cent over the same period last year, while its imports were more than $111 million, up seven per cent, it said.

Chhour Vichet, CEO of Sanco-Poipet Special Economic Zone (SPSEZ) operator Sanco Cambo Investment Group Co Ltd, told The Post on Tuesday that the zone’s production and export activities are running smoothly despite the spread of the coronavirus.

The industrial park’s occupants mainly comprise Japanese companies, which have been manufacturing automobile components and electronics components for export to Japan and Thailand, he said.

“They are producing as usual and exports have not changed during the time,” Vichet said. “We believe that the export of their products in the coming quarters will be even better because they are unaffected by the virus.”

The potential of the SPSEZ is also attracting more Japanese investors, he said.

“Recently, two Japanese companies showed an interest in investing in our special economic zone [SEZ].

“They manufacture electrical components and are exploring investment opportunities in the area,” he said.

SPSEZ covers more than 83ha in Poipet town, Banteay Meanchey province.

Ten companies currently operate in the SEZ, nine of which are owned by Japanese investors.

Cambodia and Japan have jointly committed to increase bilateral trade volume to more than $2 billion by this year.

Cambodia exported more than $1.7 billion in goods to Japan last year, up 7.7 per cent from 2018, Jetro data shows. Cambodia imported more than $563 million worth of products, up 33.4 per cent from 2018.

Between 1995 and September, there were 141 Japanese investment projects with $2.5 billion in capital investment, data from the Council for the Development of Cambodia (CDC) shows.

Of these, 66 were in special economic zones with an estimated capital investment of $340 million.

Most of the projects were in the energy, electronic component assembly, auto spare parts, agro-industry, food processing, hospitality, health and retail sectors, the data shows.

MOST VIEWED

  • Would you like fries with that? US burger chain makes Phnom Penh debut

    California-based The Habit Burger Grill restaurant chain is all set to serve up a delicious array of charbroiled burgers and sides at its newest international location in the centre of Phnom Penh. The Habit is “renowned for its award-winning Charburgers grilled over an open flame,

  • Banteay Meanchey flood victims receive aid

    Prime Minister Hun Sen on Wednesday provided aid to more than 10,000 families affected by flooding in Banteay Meanchey province’s Mongkol Borei district and offered his condolences to the 18 victims who drowned in the province over the past week. He said flooding had occured in

  • PM urges caution as Polish man tests positive for Covid

    The Ministry of Health on Wednesday reported that a 47-year-old Polish man tested positive for Covid-19 after arriving in Cambodia on Monday. There are a total of six Covid-19 patients currently in the country, all of whom are being treated at the Khmer-Soviet Friendship Hospital

  • Banteay Meanchey floods kill one more as death toll reaches 15

    As floodwaters start to recede in Pursat, Battambang and Pailin provinces and Phnom Penh, Banteay Meanchey continues to bear the brunt as one more person was killed on Monday, bringing the total number of flood-related deaths to 15 in the province this month. Banteay Meanchey provincial

  • Serving coffee with a side of robots

    The eye-catching glass building surrounded by greenery at the intersection of Streets 371 and 2002 in Phnom Penh’s Sen Sok district is more than just another coffee shop where you can while away a few hours. UrHobby House cafe is filled with robots and characters from

  • Floods prompt evacuations in Kampong Speu

    Rain-induced floods and water flowing from Kampong Speu province have submerged the houses of 1,527 families living close to the Prek Thnot River in Spean Thma, Tien, Kong Noy and Roluos communes in Phnom Penh’s Dangkor district, according to data from local authorities. Spean Thma