Kingdom-Japan trade reaches almost $850M in four months
Kingdom-Japan trade reaches almost $850M in four months
Bilateral trade between Cambodia and Japan reached $848.49 million in the first four months of 2021, an increase of 8.7 per cent compared to $780.69 million in the same period last year, according to data from state-run agency Japan External Trade Organisation (Jetro).
The Kingdom exported $643.40 million worth of goods in January-April, up by 2.2 per cent year-on-year from $629.51 million, and imported $205.10 million, up by 35.7 per cent from $151.18 million.
In April alone, bilateral trade totalled $213.9 million, of which the Kingdom exported $152.3 million and imported $61.6 million.
Cambodia Chamber of Commerce vice-president Lim Heng told The Post that Japan is a major market for the Kingdom, even buying significant amounts of merchandise during Covid-19.
While the bulk of exports still comprise garments and electrical and electronic components, Cambodia has been working to diversify its portfolio of exports to Japan, especially in agricultural goods, as well as seeking recognition from the East Asian nation for “export excellence”, he said.
“Cambodia must do more to achieve export growth to Japan as well as [secure] direct investment,” Heng said.
The resumption of direct passenger flights between the two countries would further propel trade, he said, voicing hope that new Japanese investors would venture into the Cambodian market.
The Kingdom’s main agricultural exports to Japan in the first four months of this year were cashew nuts, fresh bananas and peppercorn, the Ministry of Agriculture, Forestry and Fisheries reported.
In Lai Huot, owner of the Chey Sambor cashew nut processing plant in southwestern Kampong Thom province’s Kampong Svay district, said her enterprise had exported 16 tonnes of finished nuts to Japan over May-June.
While there may be great demand for cashew nuts in Japan, access to the fastidious market requires careful quality control at all stages of the production chain – from planting, harvesting, processing and packaging, she stressed.
“In collaboration with the Japanese company Top Planning Japan, my enterprise regularly processes cashew nuts for export to Japan,” Lai Huot said.
She said the crop’s strong market position had compelled her to study the possibility of expanding the plant’s monthly production capacity from 10 to 20 tonnes to meet the perceived growth in international demand.
Bilateral trade between Cambodia and Japan was worth $2.10178 billion last year, down 8.35 per cent from 2019, Jetro data show.
Cambodia exported $1.61708 billion worth of merchandise to Japan last year, down 6.6 per cent, and imported $484.70 million, down 13.8 per cent.
