The Cambodia Chamber of Commerce (CCC) has announced it is planning to open its first representative office in Japan with the main aim of attracting Japanese investment into the Kingdom.
Bilateral trade between Cambodia and Japan reached $$632 million in Q1 of 2021 which represents an increase of 6.6 per cent compared with 2020 reported according to Japan External Trade Organization (JETRO). This has increased to 8.7 per cent for the first four months of 2021.
In Q1 2021, Cambodia sent $489 million worth of products to Japan, while imports from Japan reached $143 million. The main exports to Japan included:
- Garments, bags, footwear.
- Paper & office supplies.
- Leather goods.
Cambodia imported machinery, automobiles, electronics, furniture, fabrics and plastics from Japan.
Nguon Meng Tech, director-general of the CCC said that there several steps to complete before a representative office could be opened in Japan. He previously said of the trade: “The positive growth of exports to Japan is a good sign for Cambodia’s trade and it is suited to the situation that Cambodia is having bilateral free trade with countries such as China and South Korea”.
The CCC hope they can open an office in 2021 or 2022. “There have been many Japanese investors waiting to seek opportunities in Cambodia and they would come and explore in the post-COVID-19 era,” said Meng Tech.