Phnom Penh (FN), Feb. 28 – Cambodian Delegate Minister Jean François Tan highlighted that Cambodia-Malaysia trade volume is still small due to geographical divisions between the two countries by the South China Sea.
Jean François Tan spoke during a press conference after Samdech Thipadei concluded his official visit to Malaysia on 27 February 2024.
"In fact, Cambodia-Malaysia trade volume was expected to reach more than USD 600 million in 2022. Cambodia-Thailand trade volume was expected to reach nearly USD 8 billion in 2022. Therefore, it is undeniable that the Cambodia-Malaysia trade is still small. Why? The economic forces of the two countries are not well coordinated, and obviously the Malaysian economy, for example, is particularly dependent on the export of palm oil and electronics, while Cambodia continues to rely on agriculture and the garment sectors," the minister delegate underscored.
“Thus, trade between Cambodia and Malaysia is still relatively small, such as purchasing small quantities of rice, refined oil and rubber. On the other hand, Cambodia-Malaysia trade is still small because of the geographical factors compared to Thailand and Viet Nam, Malaysia is far from Cambodia, bordered by the South China Sea, making transportation more expensive. In recent years, the COVID19 since 2020 has also been involved because it affects the supply chain and tourist influx from Cambodia to Malaysia and vice versa," the delegate minister added.
=FRESH NEWS