Exports to Japan on the Increase

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Khmer Times/May Kunmakara

Cambodia’s exports to Japan, the world’s fourth largest economy, skyrocketed in the first quarter of the year thanks to the improvement in regional connectivity within the 10 Southeast Asian nations. According to the latest data from the Japan External Trade Organization (JETRO), total exports from Cambodia reached almost $329 million in the first quarter of the year, a big increase of more than 34 percent, compared with $245 million in the same period last year.

Hiroshi Suzuki, CEO/Chief Economist for the Business Research Institute for Cambodia, said the increase in items would be garment products and shoes. He said Cambodia has good advantages for the production of these items. The advantages are lower labor costs and improved logistical connections with Japan. “I am very positive for the increase of trade volume and amount, not only between two countries, but also with Asean member countries,” Mr. Suzuki said.

“This is because of the improved connectivity among Asean countries and global economies. Now Japanese companies have good production networks among the Asean countries. “I suppose that Cambodia is becoming an important production base for the enhanced production network,” he added.

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