PHNOM PENH: On Wednesday, November 8, 2023, Deputy Director General of Trade Promotion Tan Yuvaroath met with Dato Sri Ricky Yaw, President of the Malaysia-Cambodia Chamber of Commerce (MCCC) and Group Chairman of EAKON Group, and a Malaysian delegation at the Ministry of Commerce in Cambodia.
The meeting was attended by deputy directors and officials from the Department of Market Development. The purpose of the meeting was to exchange information on market requirements, bring together businesses from both countries and discuss potential business cooperation opportunities.
Malaysia has invited Cambodian businesses to visit Malaysia in April 2024, and Cambodia has welcomed the initiative and pledged to provide assistance and cooperation.
In the first nine months of 2023, Malaysia became Cambodia’s 14th largest trading partner, up from 17th in the same period in 2022. Trade between the two countries reached nearly $487 million during this period, a 7% increase over the same period last year.
Malaysia’s imports from Cambodia increased by 10.1% to $414.54 million, while Cambodia’s exports to Malaysia decreased by 7.8% to $72.04 million. This resulted in a trade deficit of around $342.5 million for Cambodia.
Bilateral trade between Cambodia and Malaysia reached $57.38 million in September 2023, up 6.45% from September 2022. Cambodia’s exports in September increased by 33.5% to $11.53 million, while imports from Malaysia rose by 1.9% to $45.84 million.
The meeting between Tan Yuvaroath and the MCCC delegation is a sign of growing trade ties between Cambodia and Malaysia. The two countries are committed to working together to boost economic cooperation and create new opportunities for businesses from both sides.
