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Wednesday, January 18, 2012

Cambodia's export to EU reaches US$1.3b

Business Desk
Rasmei Kampuchea Daily

Cambodia's export to the EU market in 2011 reached over US$1.3 billion, increasing almost 40 per cent from 2010, according the EU ambassador to Cambodia.

"Overall, comparing the total value of exports from Cambodia to the EU in 2010 with 2011 data, an increase of 39.86 per cent can be reported. The EU is only second after US ($2,070,009,468 million, representing 45. per cent of total export of Cambodia) as destination of total Cambodian exports in 2011," Ambassador Jean-Fran├žois Cautain, Head of the EU Delegation to the Kingdom of Cambodia told The Cambodia Herald in this week's interview.

He added most recent export figures for Cambodia (2011) show that the value of exports leaving Cambodia to the EU registered at slightly more than $1.3 billion, representing 28.7 per cent of Cambodia's total exports.

EU imports from Cambodia in 2011 highly concentrated in textiles and textile articles (78 per cent in 2011 compared to 64.8 per cent in 2010), footwear (9.5 per cent in 2011 against 24.8 per cent in 2010), other goods including vehicle equipment (about 7 per cent), and rice (0.5 per cent).

In the past few years, rice has been a promising export product in agriculture, especially since its coverage under Everything But Arms (the European preferential trade scheme that allows Cambodia-based firms to export sugar and other goods to the EU) since 1 September 2009, with exports to EU increasing exponentially from about $2 million in 2008 to $31.5 million in 2010. In 2011 the value of rice exported to the EU market reached $66 million, with an incredible 108.94 per cent increase in 2011 compared to the previous year.

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