Cambodia earns over 500 mln USD from bicycle export

Illustrative image (Photo: Khmer Times)

Phnom Penh (VNA) – Cambodian bicycle manufacturers earned 514 million USD from exports in January-October, the Khmer Times quoted the Cambodian Ministry of Commerce as saying on December 27.

During the year-end meeting on December 23, Cambodian Minister of Commerce Pan Sorasak said despite disruptions made by the COVID-19 pandemic, the country’s strong export of bicycles has remained this year.

Its major markets including the US, Germany, UK, Japan, China, ASEAN, Belgium, Holland, Austria, Sweden, Denmark, Australia, Czech Republic, Italy, Columbia, the Republic of Korea, Spain, Slovenia, and Canada.

The bicycles are assembled only in the special economic zones located in Bavet city, Svay Rieng province, which shares a border with Vietnam.

They are exported under free trade agreements, the Generalised System of Preferences and Most-Favoured Nation (MFN) schemes, and other trade deals.

Last year, bicycle exports brought 527 million to Cambodia, a 27.7 percent increase compared to that in a year before./.