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Exports to UK up 5 percent

Khmer Times Share:
Footwear is one of Cambodia’s biggest exports. KT

With the United Kingdom and the European Union still working out the kinks of how to proceed with Brexit, imports from the UK to Cambodia exploded last year, growing by as much as 112 percent.

Cambodian exports to the UK, on the other hand, rose only moderately.

In 2017, exports to the UK were worth $1.16 billion, 5 percent more than the previous year. Imports from the UK, however, grew by 112 percent, reaching a value of $48 million.

Bilateral trade, meanwhile, reached $1.2 billion, a 7 percent increase.

Seang Thay, spokesman at the Ministry of Commerce, told Khmer Times that he expects the countries’ trade relation will not be adversely affected by Brexit.

“When it comes to trade, we hold talks with the EU as a group, but we also negotiate bilaterally with each country, so I don’t think Brexit will affect trade between Cambodia and the UK,” Mr Thay said.

In a 2016 referendum, Britons voted to leave the EU. However, the UK will remain a part of the EU until March 2019, when it will officially leave the bloc.

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