Cambodia-U.S. Bilateral Trade Reaches Over US$3 Billion
AKP Phnom Penh, January 28, 2019 —
The two-way trade between Cambodia and the U.S. rose to US$3.31 billion last year, up 27 percent from US$2.61 billion the previous year.
The figures were shared by Cambodian Minister of Commerce H.E. Pan Sorasak at the opening of the 5th Joint Council Meeting on Trade and Investment Framework Agreement (TIFA) between the Royal Government of Cambodia (RGC) and the U.S. government, held in Siem Reap province this morning, according to the Ministry of Commerce’s news release.
Of the total trade exchange volume, H.E. Pan Sorasak pointed out, Cambodia’s exports to the U.S. were valued at US$2.88 billion, while its imports from the U.S. were US$426 million, making the U.S. the second biggest market for Cambodia.
In his opening speech, H.E. Minister said the 5th Joint Council Meeting on TIFA is a vital opportunity for both sides to monitor and update each other on remaining and new issues for their mutual interests.
H.E. Pan Sorasak thanked the U.S. for its assistance to Cambodia, especially the duty-free benefits to Cambodian travel goods such as luggage, backpacks, wallets, etc.
He also informed the meeting of the strong progress of Cambodian economy and the RGC’s commitment to continue carrying out the open sky policy and economic integration at all levels to attract more investments in order to diversify employment opportunities and increase more incomes for local people as well as to make the Kingdom an upper middle-income economy by 2030 and a high-income country by 2050.
(Photo: Ministry of Commerce)
By So Sophavy