Doing Business in Cambodia: 2013 [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 Buy at Amazon

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).

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