Bicycle export nets $500 million in ten months

Bicycles on sale in Phnom Penh. The Kingdom’s big five bike makers earned 00 million from exports this year. KT/Pann Rachana

Cambodian bicycle manufacturers earned $514 million from exports in the January-October this year, a year-on-year increase of 21 percent, a report from the Ministry of Commerce showed.

The main markets for Kingdom’s bicycles are US, Germany, UK, Japan, China, Asean countries, Belgium, Holland, Austria, Sweden, Denmark, Australia, Czech, Italy, Columbia, South Korea, Spain, Slovenia, and Canada.

The ministry stated that the bicycles are assembled only in the special economic zones located in Bavet city, Svay Rieng province, which shares a border with Vietnam.

Currently, five companies assemble bicycles for export. They 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 in the ministry’s annual meeting held last Thursday, said that Cambodia’s export in the light of Covid-19 has remained strong.

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

Bicycles are exported under free trade agreements, other trade deals, the Generalised System of Preferences and Most-Favoured Nation (MFN) schemes.

Last year, bicycle exports earned $527 million, a 27.7 percent increase compared to that in a year before. Khmer Times