Bicycles

Cambodia Bike Exports Total $500m in Seven Months

Cambodia has raced ahead of other nations to become the leading supplier of bicycles to the European Union, earning more than $500 million in the first seven months of 2022
Factory workers leave work in Phnom Penh. Kiripost/Siv Channa
Factory workers leave work in Phnom Penh. Kiripost/Siv Channa

Cambodia has earned more than $500 million from bicycle exports in the first seven months of 2022, marking an increase of 144.13 percent, according to the Ministry of Industry, Science, Technology, and Innovation.

Speaking at a press conference on “Achievements of the Ministry of Industry over the Last Five Years” on Thursday, Secretary of State, Heng Sokkung, said Cambodia's bicycle industry has ranked fifth and first in terms of bicycle exports since 2020.

“Cambodia has earned more than $520 million from bicycle sales compared to 2021, which was $566 million, an increase of 144.13 percent. Cambodia has received a lot of income from this export,” he said at a press conference.

Aiming to expand exports to other countries, Heng Sokkung told Kiripost on Friday that the Industry Ministry is encouraging all factories to innovate to enhance production and quality. Furthermore, the Ministry is implementing the National Intellectual Property Policy to expedite the supply of industrial degrees and to protect innovators' rights.

“For example, if he designs a new model of a bicycle, we can ensure their ownership since Cambodia has innovation legislation with other nations, which means that we have signed an MoU for intellectual property protection with the United States, European Union, Japan, China, Korea, and Singapore,” he said. “This is a great accomplishment for our country that we can ensure intellectual property protection.”

He added that the Ministry is strengthening collaboration with national and international partners in order to improve quality and expand the market, as it has signed FTA with China, South Korea, and other significant markets across the world.

“We also encourage [factory] to implement our existing national standards since it is in accordance with the international standard,” he said. “So if they fulfill our national standard, they can export to other countries without worrying.”

Prior to 2020, China was the top supplier of bicycles to the European Union, followed by Chinese Taipei and a few other nations. However, since 2020, Cambodia has become the leading supplier of bicycles to the European Union, accounting for 24 percent of EU imports.

In the report, the Ministry of Industry said 1,107 new factories have opened in the last five years, while 682 closed.