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Cambodia-RoK trade forecast to soar in 2010

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.
Two-way trade between Cambodia and theRepublic of Korea (roK) is expected to surge sharply this year asturnover reached 27.7 million USD in January, a year-on-year rise of 77percent.

Of the total volume, almost 23.4 millionUSD came from the RoK, up 58.2 percent, while Cambodia ’s exports rakedin 4.3 million USD, a fourfold increase against the same period lastyear, 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 garmentspare 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 forecastto grow by 20 percent this year. Cambodia is striving to equalise thetrade balance between the two nations by boosting its exports to theRoK, mainly natural rubber and agricultural products, he added.

The government of Cambodia plans to expand rubber tree acreage in aneffort to harvest an output of 250,000 tonnes of latex for exportwithin the next 5-7 years, making it one of the biggest hard currencyearners for the country and creating more jobs for labourers./.
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