Cambodian Exports to EU See Rapid Growth in 2012

Cambodia’s exports to the European Union (E.U.) grew to $2.32 billion in 2012, a 23 percent increase compared to the previous year, according to the E.U.’s latest trade figures. The figures, released this week by the European Commission’s trade office, testify to the region’s growing role as a key trading partner for Cambodia, thanks to the E.U.’s Everything But Arms (EBA) trade scheme, which lets Cambodia and a few dozen other developing countries export most goods to member states without tariffs or quotas. According to figures, exports to the E.U. grew twice as much as exports to any other of Cambodia’s trading partners in 2012. And economists say that it would not be surprising if exports to the E.U. soon made up half of all Cambodia’s exports, with garments leading the way. … Of the $5.49 billion worth of goods Cambodia exported last year, according to figures from the Commerce Ministry’s Cam-Control department, 42 percent went to the E.U., up from 35 percent in 2011. The remainder of Cambodia’s exports mostly went to the U.S., with smaller amounts going to Japan, China, South Korea and other countries in South East Asia. …

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