[INNEWS Comprehensive Report] Recently, the General Administration of Customs of Cambodia released a report stating that in the first seven months of 2023, the trade between Cambodia and China will grow to more than US$7 billion, an increase of 1.8% from US$6.9 billion in the same period last year.
The report shows that China is Cambodia’s largest trading partner. Cambodia’s main export products include: clothing, mechanical and electrical equipment, footwear products, leather products, grain, furniture, rubber, fruits, vegetables, pearls, toys and textiles. Products exported by China include knitted fabrics, cotton woven fabrics, metal machinery, construction materials, electronic equipment, plastics, aluminum, furniture, and paper and cardboard products.
On August 12, Chinese Foreign Minister Wang Yi held talks with Sok Chenda Sophea, a ministerial representative of the Prime Minister’s Office of Cambodia and Secretary-General of the Cambodian Development Council, Deputy Prime Minister Hor Nam hong, and Sun Chanthol , Minister of Public Works and Transportation. To strengthen the good relationship and bilateral cooperation between Cambodia and China, China promises to continue to provide support to Cambodia in key areas such as agricultural production, industry, electricity, education and health, and infrastructure, including highway construction in major provinces, sewage treatment in Sihanoukville The development of the department, as well as the development of connecting the Northern Economic Corridor and connecting the Thai-Laos Railway, especially continue to promote smoother cooperation under the framework of the Cambodia-China Intergovernmental Committee, bringing projects to the development of key areas in Cambodia.
It is understood that Cambodia and China have become strategic partners and carried out comprehensive cooperation since 2010. The vision of the Cambodian and Chinese governments under the policy framework of the Silk Road, the Economic Belt and the 21st Century Silk Road is committed to working together to promote the building of a Cambodia-China community of shared future, and promises to increase the bilateral trade volume to more than 12 billion US dollars in 2023.
According to data from the General Administration of Customs of Cambodia, in 2022, the trade volume between China and Cambodia will exceed US$11.6 billion, an increase of 4.4% compared with last year. Among them, Cambodia’s total imports from China will reach US$10.445 billion, a year-on-year increase of 7.9%, accounting for 34.9% of the market. Become Cambodia’s largest source of goods; Cambodia’s total exports to China reached US$1.241 billion, a year-on-year decrease of 17.9%.