Trade between Cambodia and France grew by more than 9 percent last year, exceeding $1.2 billion in value and making France the Kingdom’s third largest export market in the European Union.
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According to a recent report from the Ministry of Commerce, bilateral trade rose by 9.2 percent year-on-year in 2018, with Cambodia’s exports to France worth more than $1.1 billion.
France’s exports to Cambodia were valued at $111, the report shows.
“France is the third largest importer of Cambodian goods in the EU and therefore it is a very important market,” said ministry spokesman Long Kemvichet.
Mr Kemvichet told Khmer Times that Cambodia’s main exports to France are garments and footwear, and rice. Cambodia mostly imports medicines, wine and spirits, and machinery from France.
“The government is now looking to lure more French investors into the services and manufacturing sectors. Our hospitality, tourism, manufacturing, and financial services, among many others, are all very attractive sectors for French investors,” he added.
Speaking at a regional Asean Forum in Phnom Penh last week, Minister of Commerce Pan Sorasak said trade between Cambodia and France continues to increase every year as a result of the governments’ good relation.
“Cambodia has a very open and business-friendly investment policy and now the government is enacting a lot of reforms to improve the business climate even further in line with the Industrial Development Policy 2015-2025,” he said.
Philippe Baudry, economic counsellor at the French Embassy, told Khmer Times in March that France is Cambodia’s ninth largest export market and the 18th largest supplier. Cambodia, on the other hand, is France’s 112th largest export market and 55th largest supplier.