Cambodia-India Trade on the Rise
AKP Phnom Penh, August 05, 2020 —
Bilateral trade between Cambodia and India are on a significant rise while the two countries are moving forward to the free trade agreement (FTA) talks which will contribute to further boosting the two-way trade.
Statistics from the Ministry of Commerce stated that the trade exchange volume between both nations was recorded at US$271 million last year, a year-on-year increase of 30 percent.
Of the amount, Cambodia exported US$65 million worth of products to India, a 30 percent increase, and imported US$207 million worth of goods from India, up 31 percent.
The figures were shared in a video conference on INDO-ASEAN Oceanic Business Summit and Expo held on Aug. 4.
H.E. Seang Thay, Spokesperson at the Ministry of Commerce, stressed that the traditional relationship between the two countries has resulted in positive impact on the two-way trade.
Cambodia and India are looking forward to the study on possibility of FTA talks, and the deal will contribute to boosting their bilateral trade, H.E. Seang Thay told AKP on Wednesday.
According to the spokesperson, both sides have been gathering in a three-day meeting starting yesterday on the possible study of FTA talks, and the outcome of the meeting will be released tomorrow.
Bilateral trade between the two nations was valued at US$207 million in 2018, up from US$128 million in 2017.
(Photo: Ministry of Commerce)
By Chea Vannak