Cambodia's exports to RCEP countries reach more than $ 7 billion, up more than 27% in the first 11 months of this year

Phnom Penh: The Minister of Commerce said that Cambodia's trade volume with the signatories of the Regional Comprehensive Economic Partnership Agreement (RCEP) reached 26.57 billion US dollars, including exports of $7.21 billion, an increase of 27.29%.

The Minister of Commerce, Ms. Cham Nimmol, said this while presiding over the opening ceremony of the 2023 Business Review Meeting and the 2024 Business Implementation Goals. The conference will be held for two days from December 21-22, 2023 at the Ministry. The Minister of Commerce said that the RCEP market is an important market for Cambodia, accounting for about 61.06% of Cambodia's total trade volume.

At the same time, Ms. Chamnimol said that the Ministry of Commerce is committed to continuing its efforts to promote the business sector by continuing to deepen reforms and improve the quality of the Ministry's public services through automatic systems, reducing costs and time, stabilizing prices, and boosting domestic trade, market development, and private sector development, as well as continuing to build and amend trade-related laws and regulations to facilitate and create a favorable environment for business and investment, as well as strengthen the competitiveness of Cambodian exports to international markets.

Cambodia's five main trading partners under the RCEP are China, Vietnam, Thailand, Singapore, and Japan. Cambodia's main exports are agricultural products, spare parts, auto parts, electronics, electronics and textiles, garments and footwear. Most of the goods that Cambodia imports are raw materials, textiles, garments, fuel, construction materials, foodstuffs, daily necessities, vehicles, machinery, electronics, clothing, medicine and medical equipment, and cosmetics.