PHNOM PENH, Jul 17 (NNN-AKP) – Cambodia’s trade with the Regional Comprehensive Economic Partnership (RCEP) member countries, hit 19.7 billion U.S. dollars, in the first half of this year, up 16.5 percent from 16.9 billion dollars, over the same period last year, said an official, yesterday.
The country’s exports to fellow RCEP member countries amounted to 5.03 billion dollars, during the Jan-Jun period this year, up 11 percent from 4.52 billion dollars over the same period last year, said the report, compiled by the Ministry of Commerce.
Meanwhile, the kingdom’s imports from RCEP member countries reached 14.67 billion dollars, up 18.5 percent from 12.38 billion dollars, the report added.
Cambodia’s top five trading partners under the RCEP are China, Vietnam, Thailand, Japan, and Singapore.
Ministry of Commerce’s Secretary of State and Spokesperson, Penn Sovicheat, said, the world’s largest trade deal, played a crucial role in boosting global trade, amid the U.S. tariff hikes.
“The RCEP is a catalyst for long-term export growth and a magnet to attract more foreign direct investment to Cambodia,” he said.
“With preferential tariffs provided under the RCEP, Cambodia’s exports to other RCEP members will undoubtedly continue to rise this year and beyond,” he added.– NNN-AKP
