Bilateral trade between Cambodia and the European Union (EU) was valued at 4.5 billion euros (4.98 billion U.S. dollars) in 2021, up 4.6 percent from a year earlier, said a joint press release yesterday.

Main products Cambodia exported to EU are agricultural products, including milled rice, textiles, footwear, travel goods and bicycles, while key items the kingdom imported from EU include construction materials, food and beverage, electronics and pharmaceutical products.

The joint press release was issued at the end of the 11th Cambodia-EU Joint Committee Meeting, which was held here, in a hybrid format and co-chaired by Cambodian foreign ministry’s secretary of state, Luy David and Paola Pampaloni, deputy managing director for Asia and Pacific, of the European External Action Service.

The meeting discussed economic recovery measures, bilateral trade and investment relations, technical cooperation, market access issues, and the ongoing efforts, to further improve business environment, including the new Law of Investments and diversify Cambodia’s economy, it said.

“The two sides also committed to further strengthen cooperation, to ensure that Cambodia’s investment climate remains open, well facilitated, competitive, and conducive to sustainable socio-economic development,” the release said.

“The meeting also exchanged view on regional and global trade development, including updates on economic integration in ASEAN and across the wider Asia-Pacific region, EU-ASEAN regional trade relations and the updates on WTO reforms, among others,” it added.

The next meeting will be held next year in Brussels, the release said.–

Source: NAM News Network

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