Cambodia-Malaysia Trade Volume Dips 9.5percent Last Year

PHNOM PENH— Bilateral trade volume between Cambodia and Malaysia reached 386 million U.S. dollars in 2015, down 9.5 percent year-on-year, according to a report released during a business forum here.

Cambodia's export to Malaysia was recorded at 151 million U.S. dollars last year, down 17 percent year-on-year, while the country' s import from Malaysia amounted to 235 million U.S. dollars, also down 3.5 percent.

The trade balance in 2015 was in favor of Malaysia with a trade surplus of 84 million U.S. dollars.

Products mainly traded are textile, clothing, footwear, beverage and tobacco, processed food, milled rice, crude rubber, petroleum and electric products, said the report released at the Cambodia-Malaysia Business Forum.

Speaking at the forum, visiting Malaysian Minister of International Trade and Industry Mustapa Mohamed said his trip to Cambodia was to explore ways to boost trade and investment ties between the two countries.

"I'm here to further enhance our bilateral trade and investment ties," he told the forum, which was attended by some 200 Cambodian and Malaysian business executives.

According to Mustapa, Malaysia is one of Cambodia's largest investors with a cumulative investment of 2.62 billion U.S. dollars from 1994 to 2015.

Cambodian Commerce Minister Pan Sorasak said he was confident that Mustapa's visit, along with a group of Malaysian business executives, would contribute further to boosting trade and investment relations between the two ASEAN members.