Phnom Penh, Cambodia – Trade between Cambodia and Singapore has experienced an extraordinary surge, reaching a total bilateral volume of $775 million during the first four months of the year. This impressive figure marks a substantial increase of 220.8% when compared to the corresponding period in the previous year, according to trade balance statistics meticulously compiled by the Cambodian General Department of Customs and Excise.
From January to April, the total trade exchange between the two nations amounted to $775.5 million. Within this period, Cambodian exports saw a significant rise, reaching $23.8 million, which represents a 30% increase. Concurrently, imports from Singapore to Cambodia grew even more dramatically, totaling $751 million, a surge of 236.5%. This remarkable growth underscores the escalating economic partnership, with Cambodia recognizing Singapore as a crucial strategic partner.
Further solidifying these ties, Deputy Prime Minister and First Vice-Chairman of the Council for the Development of Cambodia (CDC), Sun Chanthol, held a productive meeting with Mr. Steven Pang Chee Wee, the Ambassador of Singapore to Cambodia, on May 11. During their discussion, both parties emphasized the historical friendship and robust cooperation that have characterized relations between the two countries to date, as confirmed by a press statement from the CDC.
Ambassador Steven Pang, who commenced his diplomatic mission in Cambodia two months prior, shared insights from his firsthand exploration of key provinces. His travels included a visit to Preah Sihanouk province, where he meticulously studied the potential of port infrastructure, plans for expanding the Sihanoukville Autonomous Port, and the ongoing development of modern logistics systems aimed at boosting maritime trade. He also journeyed to Koh Kong province, specifically the Sre Ambel area, to observe wildlife conservation efforts and the advancement of biodiversity tourism initiatives, which exemplify a balanced approach to development and preservation.
Addressing Deputy Prime Minister Sun Chanthol, Ambassador Pang highly commended the Cambodian government’s resolute commitment to combating and eradicating online scams. The Singaporean Ambassador conveyed his firm belief that this issue is a global concern that necessitates close regional cooperation to be effectively stamped out.
Deputy Prime Minister Sun Chanthol reiterated Cambodia’s long-standing positive working relationship with Singapore, reaffirming the island nation’s status as a vital strategic partner. He expressed optimism for even stronger future relations between the two countries. The Deputy Prime Minister also provided a detailed overview of Cambodia’s socio-economic development plans to Ambassador Pang. His presentation focused on enhancing the integration of multi-modal transport networks—including land, waterway, sea, and air routes—and highlighted projects to establish logistics hubs, envisioning Cambodia as a pivotal regional connectivity point.
Furthermore, Deputy Prime Minister Sun Chanthol elaborated on the success stories of Singaporean investors actively operating in Cambodia. In light of these achievements, the First Vice-Chairman of the CDC encouraged the Ambassador to explore further avenues for attracting additional Singaporean investments, particularly in the promising Halal food processing industry. This sector holds substantial potential for both regional and global markets, according to the CDC.
Deputy Prime Minister Sun Chanthol expressed his strong conviction that the collaborative progress between Cambodia and Singapore will advance to new heights, especially across the sectors of trade, investment, and infrastructure connectivity. He asserted that the growth in these areas will yield significant economic benefits for both nations, while also contributing to the overall stability and prosperity of the wider region.
