Export of bicycles grossed $ 500 million in ten months

Cambodian bicycle makers pulled $ 514 million from exports from January to October of this year, a 21% year-over-year increase, according to a Commerce Ministry report.

The main markets for Kingdom’s bikes are the United States, Germany, United Kingdom, Japan, China, ASEAN countries, Belgium, the Netherlands, Austria, Sweden, Denmark, Australia, Czech Republic, Italy, Colombia, South Korea, Spain, Slovenia and Canada.

The ministry said the bikes are assembled only in special economic zones located in Bavet town, Svay Rieng province, which shares a border with Vietnam.

Currently, five companies assemble bicycles for export. These are Evergrand Bicycle (Cambodia), Speedtech Industrial Co Ltd, Smart Tech (Cambodia) Co Ltd, A and J (Cambodia) Co Ltd and XDS Bicycle (Cambodia) Co Ltd.

The Minister of Commerce at the ministry’s annual meeting held last Thursday, said Cambodia’s exports in light of Covid-19 remained strong.

“Despite the disruption caused by the Covid-19 pandemic, the country’s strong export of bicycles has remained this year,” said Pan Sorasak. Minister of Commerce at the ministry’s annual meeting held last Thursday.

Bicycles are exported under free trade agreements, other trade agreements, the Generalized System of Preferences and most favored nation (MFN) regimes.

Last year, bicycle exports grossed $ 527 million, an increase of 27.7% from the previous year.

Source link

About Harry Qualls

Harry Qualls

Check Also


Businesses involved in importing global products to the United States and considering the use of …