Cambodian exports to China rose by 39 per cent to $1,510 million last year as both sides implemented their new free trade agreement (FTA). Figures from the Cambodian ministry of commerce showed the bilateral trade reached $11,144 million last year, a year-on-year (YoY) rise of 37.28 per cent. Imports from China were valued at $9,633 million, a 37 per cent YoY rise.
Ministry spokesman Penn Sovicheat said the bilateral trade is expected to increase due to the FTA.
The agreement, officially signed on October 12, 2020, brings the proportion of zero-tariff products in the goods trade between China and the Southeast Asian nation to more than 90 per cent for both countries.