11:19 | 14/03/2014 Global Economy
Two-way trade between Cambodia and the European Union (EU) in 2013 edged up by 30 percent against 2012 to over 2.7 billion USD, according to the Cambodian Ministry of Commerce.
Last year, Cambodia’s export to the bloc exceeded 2.5 billion USD, representing a year-on-year rise of 33 percent, while its import expanded by 4 percent to nearly 234 million USD.
The country mainly exports garments and textiles, footwear, sugar and farm produce to the EU and imports machinery, equipment and materials from the market.
In 2013, the EU is Cambodia’s second largest trade partner after the US. Cambodia has enjoyed the removal of export tariff in the two markets since 2009.
The Asian Development Outlook forecast Cambodia’s growth in 2014 at 7.5 percent, surpassing last year’s figure of 7.2 percent./.