Doing Business in Cambodia: 2013 [Kindle Edition]

Doing Business in Cambodia: 2013 - U.S. Department of Commerce [Kindle Edition]

Author: U.S. Department of Commerce
Publisher: Pennyhill Press
Publishing Date: 2013
File Size: 874 KB
Print Length: 78 pages
Language: English
ASIN: B00H1ZB2ZE
Format: Kindle Edition
Text-to-Speech: Enabled
X-Ray: Not Enabled
Lending: Not Enabled

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Book Description

Over the last decade, Cambodia’s gross domestic product (GDP) grew at an average rate of 8.2 percent. In 2012, the economy grew by over 7 percent, and it is expected to continue to grow at a similar rate over the next two years. Cambodia, however, remains one of the poorest countries in Asia. The country is heavily reliant on foreign aid, with donor support equivalent to over half of the government’s budget. Despite strong performance in the garment, tourism, and construction/real estate sectors, Cambodia remains an agrarian country. The agriculture sector employs approximately 80 percent of the Cambodian population.

Since Cambodia became the first least-developed country (LDC) to join the World Trade Organization (WTO) in 2004, trade has steadily increased. The United States is Cambodia’s largest trading partner. Approximately 41 percent of Cambodia’s total exports reach the United States – primarily garment and footwear products. In 2012, Cambodian exports to the United States were valued at $2.692 billion. For the same year, U.S. exports to Cambodia were $226.2 million. The United States and Cambodia are signatories to a 2006 Trade and Investment Framework Agreement (TIFA) to promote greater trade and investment in both countries and to provide a forum for addressing bilateral trade and investment issues. The United States and Cambodia began exploratory discussions on a Bilateral Investment Treaty (BIT) in May 2013 and these discussions are ongoing. Cambodia is also a member of the Association of Southeast Asian Nations (ASEAN) and the Asia Free Trade Area (AFTA).