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.

Related Content

Severe flooding hits Kratie as Cambodia braces for twin typhoons

Huawei and CAFT sign MoU to strengthen Cambodia's fintech sector

Cambodia sees 15.5% growth in rubber exports, earning $328mn in first eight months of 2024

Severe flooding hits Kratie as Cambodia braces for twin typhoons

Huawei and CAFT sign MoU to strengthen Cambodia's fintech sector

Cambodia sees 15.5% growth in rubber exports, earning $328mn in first eight months of 2024

#bno #Cambodia #EU #export #trade

Read in IntelliNews Pro

Get IntelliNews Pro

Related Content

Severe flooding hits Kratie as Cambodia braces for twin typhoons

Huawei and CAFT sign MoU to strengthen Cambodia's fintech sector

Cambodia sees 15.5% growth in rubber exports, earning $328mn in first eight months of 2024

Severe flooding hits Kratie as Cambodia braces for twin typhoons

Huawei and CAFT sign MoU to strengthen Cambodia's fintech sector

Cambodia sees 15.5% growth in rubber exports, earning $328mn in first eight months of 2024

Data

Russian industrial output slows down to 2.7% in August

Russian industrial output growth slowed to 2.7% year on year in August and 4.5% y/y in 8M24 overall, according to the latest data by RosStat. The seasonally adjusted growth was 0.8% m/m (after a similar decline seen in July).

EBRD forecasts robust growth across Central Asia

Remittances, higher wages and greater international tourism interest main drivers in rising GDP, says development bank.

Vice President Kamala Harris promises to cut energy costs, ramp up oil production

Romania’s public debt edges down to 51.4% of GDP in June

Slower economic growth and lower inflation this year failed to dilute the indebtedness ratio that has been above 50% since February.

Bosnia’s annual CPI inflation slows down to 1.3% y/y in August

Inflation in Bosnia has slowed down significantly, which has boosted the retail trade and tourism.

Russian industrial output slows down to 2.7% in August

EBRD forecasts robust growth across Central Asia

Vice President Kamala Harris promises to cut energy costs, ramp up oil production

Romania’s public debt edges down to 51.4% of GDP in June

Bosnia’s annual CPI inflation slows down to 1.3% y/y in August

Dismiss

Chat with usLiveChat