Two-way trade between Cambodia and the Republic of Korea (roK) is expected to surge sharply this year as turnover reached 27.7 million USD in January, a year-on-year rise of 77 percent.
Of the total volume, almost 23.4 million USD came from the RoK, up 58.2 percent, while Cambodia ’s exports raked in 4.3 million USD, a fourfold increase against the same period last year, reported the Korea Trade Centre (KOTRA) in Phnom Penh .
In 2009, bilateral trade dropped sharply largely due to the adverse impact of the global financial crisis, said KOTRA.
Cambodia has increased the import of fabric dye, fabrics and garment spare parts to meet its growing demand, and exported natural rubber, garments and woven products to the RoK.
KOTRA Director Nam Shik-kang said Cambodia-RoK trade has been forecast to grow by 20 percent this year. Cambodia is striving to equalise the trade balance between the two nations by boosting its exports to the RoK, mainly natural rubber and agricultural products, he added.
The government of Cambodia plans to expand rubber tree acreage in an effort to harvest an output of 250,000 tonnes of latex for export within the next 5-7 years, making it one of the biggest hard currency earners for the country and creating more jobs for labourers./.
Of the total volume, almost 23.4 million USD came from the RoK, up 58.2 percent, while Cambodia ’s exports raked in 4.3 million USD, a fourfold increase against the same period last year, reported the Korea Trade Centre (KOTRA) in Phnom Penh .
In 2009, bilateral trade dropped sharply largely due to the adverse impact of the global financial crisis, said KOTRA.
Cambodia has increased the import of fabric dye, fabrics and garment spare parts to meet its growing demand, and exported natural rubber, garments and woven products to the RoK.
KOTRA Director Nam Shik-kang said Cambodia-RoK trade has been forecast to grow by 20 percent this year. Cambodia is striving to equalise the trade balance between the two nations by boosting its exports to the RoK, mainly natural rubber and agricultural products, he added.
The government of Cambodia plans to expand rubber tree acreage in an effort to harvest an output of 250,000 tonnes of latex for export within the next 5-7 years, making it one of the biggest hard currency earners for the country and creating more jobs for labourers./.
