Cambodia, U.S. Affirm Continued Relations in Bilateral Trade

Cambodia and the United States of America have affirmed to continue strengthening cooperation in sectors of business and investment, including daily used products to services in technology and e-commerce.

In a news release of Ministry of Commerce (MoC), the affirmation was made here on Monday afternoon while MoC Minister H.E. Pan Sorasak received a courtesy call from the U.S.-ASEAN Business Council, led by its President and CEO Mr. Alexander Feldman, and H.E. Michael Newbill, Charge d’Affaires at the U.S. Embassy in Cambodia.

The delegation included representatives from ConocoPhillips (COP), Ford Motor Company, General Electric Company (GE), Chevron Corporation, Coca-Cola Company, Facebook Inc, Amazon Web Service, Oracle Corporation, Google, Master Card, and Visa Inc. They were optimistic to Cambodia’s market and aimed to further invest in the Kingdom.

During the meeting, the American side mentioned about vehicle standards determination of ASEAN, legal procedure to import medical instruments and aviation support equipment, combating cross-border trafficking of Coke products, e-commerce, and development of digital economy.

For his part, H.E. Pan Sorasak informed his guests about the efforts of the Royal Government of Cambodia to issue strategies and in-deep reform programmes to enhance Cambodia’s competitiveness and protection of interests for private sector.

H.E. Minister also laid stress on determination of MoC in negotiation for the establishment of Free Trade Agreement (FTA) between ASEAN and its dialogue partners like China, Japan, Korea, India, and Australia/New Zealand, as well as in elimination of trade barriers and protectionism.

H.E. Pan Sorasak also pledged to continue boosting business environment and investment, and trade facilitation to further attract more foreign direct investment (FDI).

According to statistic of MoC, the two-way trade between Cambodia and the U.S. in 2018 was US$4,264 million, up 23 percent compared to the figure in 2017. By April 2019, the bilateral trade between both countries was US$1,656 million, an increase of 23,71 percent compared to the same period in 2018.

Source: Agency Kampuchea Press