Cambodia's EU exports surge 16% as trade ties strengthen

Cambodia's EU exports surge 16% as trade ties strengthen

financial charts / Pexels - Jakub Zerdzicki

By bno - Bangkok Office September 27, 2024

Cambodia's exports to the European Union (EU) increased by 16.27% to $2.9bn in the first eight months of 2024, driven by the Everything but Arms (EBA) trade preference scheme, the Ministry of Commerce reported on September 26, according to a report by Khmer Times.

Two-way trade between Cambodia and the EU rose 9.62% to $3.5bn during the same period. The EU continues to be the largest purchaser of Cambodia's milled rice, representing 50% of the nation’s total rice exports, according to the Cambodia Rice Federation (CRF). "We must focus on environmental health and safety, along with conducting thorough environmental impact assessments. "To do so, we need to add various certificates to ensure Cambodia's competitiveness," stated Song Saran, Chairman of the Board of Directors of the CRF.

Additionally, last week marked the first-ever Cambodia-Europe public-private sector dialogue, aimed at promoting sustainable development and safeguarding European investments in Cambodia.

"The European Union is dedicated to its partnership with Cambodia, working as Team Europe to support green and digital transitions while assisting the country as it approaches its graduation from least developed country status," stated Igor Driesmans, the EU Ambassador to Cambodia.

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