Logo of Phnom Penh Post newspaper Phnom Penh Post - Trade with Malaysia up as exporters looks East

Trade with Malaysia up as exporters looks East

Trade with Malaysia up as exporters looks East

Bilateral trade between Cambodia and ASEAN member state Malaysia rose by 34 per cent year on year in 2011 to US$319.5 million compared to the year before, according to data from the Embassy of Malaysia in Phnom Penh released yesterday.

Experts noted the nearly 100 per cent increase in Cambodian exports to Malaysia signified a shift from dependence on Western markets.

The Kingdom shipped $65 million in crude rubber, cereal and garments, among other items, to Malaysia in 2011.

The exports represented a 95 per cent increase on the year before, statistics showed.

Recent boosts in inter-government relations accounted for an increase in confidence among businessmen and traders, director general of the Cambodian Chamber of Commerce Ngoun Meng Tech said.

“I noticed that the two governments have a very good relationship. That’s a key point for increasing trade exchanges and investment from Malaysia to Cambodia in the recent years,” he said. “It also proves that we can have more markets in the region,” he added.

Malaysia’s main exports to Cambodia last year were textiles and clothing, metal products, processed food, chemical and beverages, data showed.

After Vietnam, Malaysia is the second biggest investor in Cambodia among ASEAN countries.

Malaysia invested $235 million in Cambodia last year, a jump of 41 per cent.

Most of the investments were in garment manufacturing, real estate and rice-milling sectors.

Economists yesterday noted the increase in trade of value-added goods as a positive sign that Cambodia was beginning to look into markets in its own backyard.

“That’s a good sign for the diversification of our exports. We have mainly exported unprocessed agricultural products into many countries in the region,” Chan Sophal, president of the Cambodian Economic Association, said yesterday.

To contact the reporter on this story: May Kunmakara at [email protected]

MOST VIEWED

  • Cambodia unveils new quarantine regulations

    The government has modified Covid-19 quarantine requirements, shortening the duration for, among others, Cambodian officials, foreign diplomats and delegations, investors and inbound travellers in general. According to an official notice signed by Minister of Health Mam Bun Heng late on October 16, quarantine length for Cambodian

  • Cambodia sets new Covid-19 quarantine rules

    The government has modified Covid-19 quarantine requirements, shortening the duration for, among others, Cambodian officials, foreign diplomats and delegations, investors and inbound travellers in general. According to an official notice signed by Minister of Health Mam Bun Heng late on October 16, quarantine length for Cambodian

  • Hun Sen: Cambodia set to fully reopen

    Prime Minister Hun Sen concludes that the October 5-7 Pchum Ben public holiday, during which many people either flocked to their hometowns for family reunion or gathered at tourist attractions across the country, has not caused an outbreak of Covid-19. In a special address to

  • Will Evergrande change the way Chinese developers do business in Cambodia?

    China’s property sector policy has exposed the grim financial condition of real estate developers including those operating in Cambodia, which raises questions over the viability of their projects and business going forward The dark blue netting draping over one of Yuetai Group Co Ltd’

  • Cambodia resumes issuance of tourist visas

    The Ministry of Foreign Affairs and International Cooperation has announced the resumption of its tourist visa and visa exemption programme after a long hiatus due to the Covid-19 pandemic. In a letter dated October 20 and addressed to foreign embassies and consulates, foreign minister Prak Sokhonn

  • S’ville set to turn into ‘second Shenzhen’

    The Ministry of Economy and Finance has awarded a master plan consultancy contract to top Chinese institute for the development and transformation of Preah Sihanouk province into a “Model Multi-Purpose Special Economic Zone”, Southeast Asia’s next logistics and resort hub and innovation centre. The