US-Cambodia trade hikes by 17 percent in eight months

Illustrative image (Photo: Khmer Times)

Hanoi (VNA) – Cambodian Prime Minister Samdech Techo Hun Sen has shared his pride over the growing bilateral trade between Cambodia and the US despite the COVID-19 pandemic, saying that two-way trade saw an annual hike of 17 percent in the first eight months of this year.

In a videoconference on September 21 with the US-ASEAN Business Council (USABC) led by its President and CEO Alexander Feldman, Hun Sen informed the USABC delegation that although the COVID-19 epidemic has been causing many difficulties to the functioning of social and economic life, the Government of Cambodia has not slowed down its reform in all fields.

In order to attract more investors, especially when the COVID-19 situation eased, Cambodia is preparing to improve the investment law and new incentive system that is comprehensive and attractive for the electronics industry, farm produce processing, supporting industries, and so on, he stressed.

At the same time, he continued, Cambodia will sign the Cambodia-China Free Trade Agreement soon, hoping that this will play an important role in making Cambodia a destination for US companies looking for new production locations in Southeast Asia.

Over the past nine months, the world has been fighting against COVID-19, which has caused an unprecedented social and economic crisis, but for Cambodia, the Government has effectively managed the situation.

The country has so far not seen any community infection, and had no national shutdown even though the pandemic has created acute challenges, especially to the textile, tourism, aviation and service sectors, he said./.