Cambodia-US focus on expanding trade and investment
The U.S. and Cambodia on July 13 hosted the trade and investment seminar to expand the trade and investment volume after both sides expressed strong engagement during the 60th anniversary of establishment of diplomatic ties.
The announcement made during the forum of “Made in America” in Phnom Penh, about 100 participants including local business and trading companies, US and other international companies in Cambodia and Cambodian business associations that also are presided over by U.S. ambassador and senior trade official. “This event also contributed to 60th anniversary of diplomatic ties between Cambodia and the U.S. The bilateral trade will continue to grow after the recovery from the global economic crisis and Cambodia’s garment sector still have room to grow,” Ambassador Carol A. Rodley said. She said that it will also promote the trade for the two countries.



The statement added this one-day conference will focus on enhancing Cambodian awareness of the advantages of USA product and services and to provide strategies and motivation to Cambodian market. “The conference will also seek to educate the local business community on the ex-Im bank´s new trade e financing mechanism, types of products and services available to the Cambodian private sector, as well as how to access them.
H.E. Pan Sorasak, secretary of state of commerce ministry said that the garment product of Cambodia to US is worth about 2 billion US dollars. The event will help promote further trade. Cambodia has political stability and economic growth about 10 per cent over the last decade, he added. The investment will offer chance to create jobs and bilateral cooperation,” he stresses.

The event hosted by the U.S. embassy in Phnom Penh in cooperation with the US commercial services, the US foreign agricultural services and the US export-Import Bank.

Francis Peters, commercial attaché of The US embassy in Thailand said at the event that The US commercial services offices through the US and in American embassies and consulates innearly 80 countries and the global network of trade professionals can help businesspeople connect US companies looking for international buyers. We can assist you to participate in trade shows that feature thousands of US companies and locates US products, services or business partners and meet suppliers and partners face-to face,” he said, adding that our proven expertise makes doing business with the US easier and whether s first –time importer or an experienced one.
2010 key prospects for Cambodian importers, we have architecture and construction equipment, household goods and appliances, automotive and parts, education and training services, electrical power system, equipment , electronic components, agri-business, and food processing, and retail and franchising business, healthcare supplies, and medical devices, safety and security equipment and telecommunication and broadcasting equipment.

Mark dunn, regional manager for Asia, trade and development agency said that US- ASEAN partnership programs was highlighted during President Obama conclude a meeting with ten leaders of ASEAN in November 2009 reaffirming, that that US is committed to strengthening its engagement in Southeast Asia both with our individuals allies and partners , and with ASEAN as an institution”. “Fundamental to the success of this effort is meeting our common challenges, including addressing climate change and working together to promote a sustained and balance global economic recovery,” he said, adding that through this program in Cambodia, this 361,000 US dollars training program and reverse trade mission strengthened the capacity of the Cambodian national Petroleum Authority to work with private sector partners like Chevron in the exploration and development of their natural resources. He stated the training, held in Phnom Penh addressed topic such as commercial contracts, delimitation and joint development cases studies, project evaluation fundamentals, energy project economics, field reserve estimation development and evaluation, petroleum marketing markers participated by trade mission to the US to meet with US public and private sector.

He said that the ex-im bank in Cambodia available for business starting in October 2009 provided short (repayment up to one year) and medium term (repayment from one to seven years) loans to the private sector to support import of the UD products. Support is limited to transactions with a commercial bank as an obligor or guarantor. However, ex-im bank will consider transactions without a bank undertaking on a case by case basis.
He noted that the ex- im bank in Cambodia, the bank can also consider financing for US exports to Cambodian private sector buyers on longer repayment terms under certain conditions, such as structured finance transactions that earn revenue off-shore and are held in a bank or trust account acceptable to ex-im, bank. He added that asset backed lease and financing structures for equipment exports such as us manufacturing commercial aircraft. In ASEAN, the ex-im bank has provided over 305 million US dollar for its processing.



according to statistics from US trade balance document, bilateral trade between Cambodia and the US was worth over 2 billion US dollars, the US exported to Cambodia about 127 million US dollar and at the same time, the US imported about 1, 1924 million US dollars products from Cambodia, mostly garment product.. The US is the largest market for Cambodia’s garment product. It added that in 2010, for five months of this year, bilateral trade was worth about 875 million US dollars. The US imported product about 809 million US dollar from Cambodia.

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