For Cambodia-US bilateral relations, if there’s anything that can really stand out, that would be trade.
Bilateral trade has been one of the most robust. Only 20 years ago, it stood at $850 million. Last year alone, it reached $5.9 billion – a seven-fold increase. And, despite the current Covid-19 pandemic, exports are up 23 per cent this year. After the US granted duty free access to travel goods in 2016 under the Generalised System of Preferences (GSP) programme, travel goods exports from Cambodia increased from $50 million to nearly $1 billion last year, according to US embassador to Cambodia Patrick Murphy.
In terms of investment, it is fair to say the US’ presence is not yet significant. Accumulation of US investment from 1994 to 2019 stood at $1.124 billion. And 12 investment projects worth $151 million were approved in the last five years.
Full article available: https://www.phnompenhpost.com/opinion/how-impactful-american-business-cambodia
