Cambodia's trade with UK up 48 % in 1st quarter

The volume of bilateral trade between Cambodia and the United Kingdom for the first three months of 2012 is 178 million U.S. dollars, up 48 percent compared to the same period last year, according to a trade report provided by the British embassy here on Sunday. It said the main Cambodia's products exported to the UK are garment products, footwear, sugar and honey, rice and bicycles. In return, the country imported industrial machinery, automobiles, medical and pharmaceutical products and malt from the UK. Pan Sorasak, secretary of state at Cambodia's Ministry of Commerce, attributed the growth in the bilateral trade volume to Cambodia's political stability, good security, and favorable business environment for businesspeople. More importantly, the two countries have had a good and long- lasting diplomatic relation since 1953, he said. According to the report, currently, more than 15 UK companies have set up offices in Cambodia in different sectors including the garment and footwear industry, banking and finance, engineering and architecture, education, hospitality and property services. The UK is the fourth largest investor in Cambodia. According to the report of the Council for the Development of Cambodia, since 1994 to 2011, Cambodia had received the promised investment of 2.4 billion U.S. dollars from the UK.