According to the Ministry of Commerce (MOC)’s annual report, the value of exports under the Generalized System of Preferences—which gives Cambodia favorable trade terms with developed countries—totaled $9.55bn, a 19.22% increase compared to last year. Commerce Minister Pan Sorasak contributed the rise in exports to the ministry’s effort to build up bilateral relationship in order to reach international market. The report also says that the government raised $2mn from issuing import license—an increase of 336% from last year—and $9mn from issuing export licenses, a rise of 37%. (Source: Phnom Penh Post)