Illustrative image (Source: VNA) Phnom Penh (VNA) – Trade between Cambodia andthe US hit 4.3 billion USD in the January-September period, up 37 percent overthe same period last year.
In thereviewed period, Cambodia’s shipments to the US rose 38 percent to 3.9 billionUSD, while imports from the US were 400 million USD, a rise of 24 percent.
Accordingto the Cambodian Ministry of Commerce, the country mostly exported textiles,footwear, goods for travelling, and agricultural products to the US, while importingvehicles, animal feed, and machinery from the US.
KaingMonika, deputy secretary-general of the Garment Manufacturers Association inCambodia (GMAC), said trade between the nations is experiencing healthy growth.
He notedthat goods in service of travel experienced the highest growth because theyhave tariff-free access to the US market under the Generalized System ofPreferences (GSP).
Garmentsand footwear, Monika explained, experienced smaller growth because of fiercecompetition from Vietnam and Myanmar.
In July2016, Cambodia was granted duty-free benefits for export of travel goods likeluggage, backpacks, handbags, and wallets to the US under GSP. Cambodia now hasabout 70 travel goods factories.
Lastyear, the Cambodia-US trade reached 4.26 billion USD, up 23 percent over 2017,including Cambodia’s exports of 3.8 billion USD./.
VNA
