Despite the political strains, economic ties between Cambodia and the United States remained strong over the years with the latter having the largest share of Cambodian exports hovering around 40 percent. The American Chamber of Commerce in Cambodia (AmCham) has played a key role in strengthening these ties which its new President Devin Barta called as ‘something very important for Cambodia.’
In an exclusive interview with Khmer Times, Devin said this relationship has helped Cambodia to grow economically. “This 40 percent (export share) helped create numerous jobs for Cambodian people and it also shows that the US remains an open market for Cambodian goods and services,” he said.
Devin, who is also the Managing Director of AHF Products, wanted to see more American companies come in and expand business in the Kingdom with their investment. “We hope to work with the Cambodian government for a business-friendly operating environment,” he said.
Interestingly, this market share of the US in Cambodia’s exports is despite the non-renewal of the Generalized System of Preferences (GSP) by the US Congress. The renewal of GSP could even further boost the trade between the two countries.
Devin agreed that GSP is an important incentive for companies that export from Cambodia to the US. He hoped that it will get renewed. “We are in a ‘wait and see’ position right now (regarding the GSP renewal),” he said.
Regarding the investment climate in Cambodia, Devin said that overall, from an American business perspective, it remains good with caveats. “The new investment law has many attractive components and I was able to advocate for Cambodia to several companies interested in investing here based on the structure of that law during a recent trade event in Bangkok,” he said.
Source: Khmer Times
