Bilateral trade between Cambodia and Japan reached $1.9 billion, in the first 10 months of the year – a slight increase of 0.44 per cent compared to the same period last year, data from the Japan External Trade Organisation (Jetro) showed.
Jetro’s data shows that in the first 10 months of last year, the two countries’ trade volume was worth $1.89 billion. Of which, exports of goods from Cambodia to Japan was worth $1.45 billion, an increase of 7.8 per cent, and imports of Japanese goods from Cambodia was worth $444.937 million, a 34.2 per cent increase.
Cambodian Chamber of Commerce vice-president Lim Heng said the increase in trade volume shows Japan is a potential market for Cambodia.
“The trade volume between the two countries will be much bigger in the future, as the Japanese government is now spending a lot of money to build infrastructure connecting with many countries in the region,” he said.
Heng said Cambodian goods exported to Japan were mainly garments and footwear, auto parts and electronic components, while Japanese goods imports were finished products and electronics.
Ministry of Commerce spokesman Seang Thay could not be reached for comment.
Chhour Vichet, the CEO of Sanco Cambo Investment Group Co Ltd, which has more than 80ha in Poipet, at the Cambodia-Thailand border, told The Post that production activities of Japanese companies in the Sanco-Poipet Special Economic Zone were moving smoothly.
Some of the products, he said, were exported to Japan and some to Thailand. Most of the Japanese factories in the Sanco-Poipet SEZ produced electronic components.
“Japanese companies in the Sanco-Poipet Special Economic Zone have increased every year. Direct exports to Japan have also increased,” he said.
Japanese investments were providing many benefits such as job creation, technological knowledge and work ethics.
However, Vichet also said if Cambodia had additional incentives for Japanese investors, it would attract more of them to invest in the Kingdom. Direct investments have many positive effects on the Cambodian economy.
Currently, the Sanco-Poipet SEZ has 10 companies operating, nine of them Japanese including NHK Spring, Techno Park Poi Pet Pvt Co Ltd and Steel Hub.
The NBC report said in the first half of 2019, Cambodia’s exports to international markets totalled $6.8 billion, of which Japan ranked fourth with a market share of 7.7 per cent.
In terms of goods imported into Cambodia, Japan ranked fourth, with a 4.5 per cent market share of total imports worth $10.5 billion.