Cambodia-China Trade Surges by 18.8% in First Half of 2024

Cambodia-China Trade Surges by 18.8% in First Half of 2024

Cambodia-China trade experienced robust growth in the first half of 2024, according to an official report released on Wednesday by the General Department of Customs and Excise.

The trade volume between the two nations reached 7.31 billion U.S. dollars from January to June this year, marking an 18.8 percent increase compared to 6.15 billion dollars during the same period last year. China continues to be Cambodia's top trading partner, followed by the United States, Vietnam, Thailand, and Japan.

Penn Sovicheat, Secretary of State and spokesperson for the Cambodian Ministry of Commerce, attributed this growth to the Regional Comprehensive Economic Partnership (RCEP) and the Cambodia-China Free Trade Agreement (CCFTA). "These agreements have facilitated the export of our high-quality agricultural products, such as milled rice, yellow bananas, mangoes, longans, cassava, and pepper, to China with preferential tariffs," Sovicheat told Xinhua.

Kin Phea, director general of the International Relations Institute of Cambodia, highlighted the long-standing strong economic and trade relations between Cambodia and China. He emphasized that the RCEP and CCFTA have significantly boosted bilateral trade, bringing considerable benefits to both countries and enhancing the Cambodia-China community with a shared future.