American Multinational Walmart Inc. Intends to Expand Business in Cambodia

Walmart Inc., an American multinational retail corporation, has expressed its intention to expand its business and strengthen partnership in business and investment activities in Cambodia in order to create jobs for Cambodian people, especially women, boost economic growth, and alleviate poverty.

The plan was unveiled by Ms. Anbinh Phan, Director of Walmart’s Global Government Affairs and Business Diplomacy, during a bilateral meeting with H.E. Pan Sorasak, Cambodian Minister of Commerce, via Videoconference yesterday.

She reassured that Walmart Inc. will remain a good business partner with producers in Cambodia in the fields of garment, textile, and agriculture.

The representative of Walmart also praised the Royal Government of Cambodia for its effective management and control of COVID-19 situation, and congratulated the Ministry of Commerce on achieving new free trade agreements, including the Regional Comprehensive Economic Partnership (RCEP), Cambodia-China Free Trade Agreement (FTA), and Cambodia-Republic of Korea FTA.

From his side, H.E. Pan Sorasak welcomed Walmart’s plan and commended its orders of garment products and travel goods from the Kingdom.

The minister further updated his guest about new achievements and efforts of the Ministry of Commerce to better business environment in Cambodia, particularly the export market diversification such as bilateral and multilateral FTA negotiations with other countries, institutional strengthening through making laws and regulations, the continuation of public service modernisation, as well as trade facilitation to improve doing business and trade in the country.

H.E. Pan Sorasak also expressed his full support to the Walmart Inc.’s intention to buy more goods from Cambodia like furniture, electronics, and other main agricultural products.

He also reaffirmed that the Ministry of Commerce will continue its cooperation with Walmart Inc., the private sector, and relevant ministries/institutions to boost the export of Cambodia’s agricultural products to American markets.

Source: Agency Kampuchea Press