Cambodia, the U.S. Discuss Bilateral Trade and Investment Opportunities

Cambodia and the United States of America have examined core vision and key strategic goals to promote bilateral trade and investment between both countries. The examination was held between H.E. Sun Chanthol, Deputy Prime Minister and First Vice President of the Council for the Development of Cambodia (CDC), and H.E. Jim Jones, CEO of Jones Group International (JGI), at the CDC headquarters here on Feb. 26. The meeting was also attended by H.E. Peng Ponea, Minister of Public Works and Transport, and representatives from relevant ministries/institutions, Cambodian Oknha Association (COA), Cambodia Chamber of Commerce (CCC), American Chamber of Commerce in Cambodia (AmCham), along with national and international investors and relevant officials. On the occasion, H.E. Sun Chanthol mentioned key strategic goals (such as an increase in trade facilitation like customs procedures, the reduction of trade barriers and administrative regulations, and the enhancement of market demand by expanding market for made-in -Cambodia products, negotiating bilateral free trade agreements, or expanding existing trade exchange in order to deepen bilateral relations), pave the way for new cooperation, and expand better bilateral trade and investment between Cambodia and the U.S. The First Vice President of CDC added that the U.S. could also support Cambodian investments through initiatives such as technical support, capacity building, and investment promotion in the Kingdom. For his side, H.E. Jim Jones lauded Cambodia's development for last couple of years, particularly the Kingdom's goal to become an upper middle-income country by 2030, and the Royal Government of Cambodia's vision to transform and modernise the country's industrial structure from a labour-intensive industry to a skill-driven industry, including a plan to develop infrastructure by using latest technologies. According to the CEO of JGI, the U.S. was ready to boost bilateral trade and investment of both countries. He was also convinced that, with bilateral trade and investment, bilateral relations between both countries would reach to the next level. Source: Agence Kampuchea Presse