Cambodia, U.S. Discuss Bilateral Trade and Investment

Cambodia and the U.S. have discussed cooperation to foster bilateral trade and investment, including e-commerce.

The update was shared following the meeting between the Minister of Commerce H.E. Pan Sorasak and U.S. Ambassador to Cambodia H.E. W. Patrick Murphy at the Sofitel Phnom Penh Phokeethra.

The discussion took place here recently when the two officials co-chaired the official opening of the U.S. Investment Relations and Investment Forum in Cambodia, organised by the American Chamber of Commerce Cambodia (AmCham).

Both sides explored possibilities to encourage e-commerce investments from the U.S. to Cambodia as the country is working hard to establish relevant legislatives to promote the sector.

They also touched on the two countries’ joint Trade and Investment Framework Agreement (TIFA) and better investment climate in Cambodia – thanks to the in-depth reform by the Royal Government.

Toward the next step, the 6th Cambodia-U.S. joint trade and investment meeting were planned via the video conference in the near future.

According to the ministry’s figures, Cambodia-U.S. bilateral trade remarkably increased from US$3.3 billion in 2018 to US$4.7 billion, or around 42 percent, in 2019.

 

Source: Agency Kampuchea Press