Logo of Phnom Penh Post newspaper Phnom Penh Post - Trade with Malaysia fell 6.4pc last year

Trade with Malaysia fell 6.4pc last year

Trade with Malaysia fell 6.4pc last year

BILATERAL trade between Cambodia and Malaysia declined more than 6 percent in the first 11 months of 2009 compared to the same period in 2008, figures released by the Malaysian Embassy showed Tuesday.

Recorded trade from January to November 2009 was US$156.1 million, down from $166.8 million in 2008 – a decline of 6.4 percent. Of this, Malaysia’s exports to Cambodia fell by 8 percent, to $142.1 million in 2009 from $154.4 million in 2008. Cambodia’s exports to Malaysia rose 22.8 percent, to $14 million from $11.4 million, representing a 10.4 percent decline in Cambodia’s trade deficit with its ASEAN partner.

Syed Farizal Aminy Syed Mohamad, chargé d’affaires at the Embassy of Malaysia in Phnom Penh, said: “The main reason for the drop is the economic crisis. Secondly, I think the decline is because Cambodia trades in US dollars. When the economic crisis arrived, the dollar became very expensive.”

He said that Malaysia’s main exports to Cambodia were chemical products, machinery, appliances and electrical products. Malaysia imports textiles, clothing, raw rubber, and logs from the Kingdom.

The Republic of Korea’s Trade Investment Promotion Agency (KOTRA) also released its annual figures. Bilateral trade between Cambodia and South Korea declined 5.51 percent year on year in 2009, to $291 million from $308 million in 2008.

Exports to South Korea rose 28.6 percent to $18 million from $14 million, while South Korean exports declined 7.2 percent to $273 million last year from $294 million.

Chairman of the Korean Chamber of Commerce in Cambodia (KOCHAM), Nam-Shik Kang, said Tuesday that trade barriers between the two countries include the cost of electricity and the expense of importing and exporting in Cambodia.

MOST VIEWED

  • Hong Kong firm done buying Coke Cambodia

    Swire Coca-Cola Ltd, a wholly-owned subsidiary of Hong Kong-listed Swire Pacific Ltd, on November 25 announced that it had completed the acquisition of The Coca-Cola Co’s bottling business in Cambodia, as part of its ambitions to expand into the Southeast Asian market. Swire Coca-Cola affirmed

  • Cambodia's Bokator now officially in World Heritage List

    UNESCO has officially inscribed Cambodia’s “Kun Lbokator”, commonly known as Bokator, on the World Heritage List, according to Minister of Culture and Fine Arts Phoeurng Sackona in her brief report to Prime Minister Hun Sen on the night of November 29. Her report, which was

  • NagaWorld union leader arrested at airport after Australia trip

    Chhim Sithar, head of the Labour Rights Supported Union of Khmer Employees at NagaWorld integrated casino resort, was arrested on November 26 at Phnom Penh International Airport and placed in pre-trial detention after returning from a 12-day trip to Australia. Phnom Penh Municipal Court Investigating Judge

  • Sub-Decree approves $30M for mine clearance

    The Cambodian government established the ‘Mine-Free Cambodia 2025 Foundation’, and released an initial budget of $30 million. Based on the progress of the foundation in 2023, 2024 and 2025, more funds will be added from the national budget and other sources. In a sub-decree signed by Prime Minister Hun Sen

  • Two senior GDP officials defect to CPP

    Two senior officials of the Grassroots Democratic Party (GDP) have asked to join the Cambodian People’s Party (CPP), after apparently failing to forge a political alliance in the run-up to the 2023 general election. Yang Saing Koma, chairman of the GDP board, and Lek Sothear,

  • 11th Chaktomuk Short Film Festival draws to close

    Cambodia's 11th Chaktomuk Short Film Festival wrapped up successfully on November 28 after a four-day run, with the film “Voice of the Night” awarded top prize for 2022. Sum Sithen, the organiser of the short film festival, told The Post that the number of attendees to the