The US embassy viewed a visit by the US-ASEAN Business Council (USABC) to Cambodia as a demonstration of deepening economic ties and an opportunity for significant progress following a new reciprocal trade agreement between the US and Cambodia.
The USABC delegation visited Cambodia from December 1-2, meeting with top leaders and several ministries to explore opportunities for cooperation.
A press release from the embassy noted that the embassy was “proud” to support the annual visit of the council, which included representatives from 12 member companies in key sectors such as healthcare, energy, digital goods and services, financial services and hospitality.
It added that the visit “demonstrated growing interest from American businesses in Cambodia’s rapidly growing economy”.
“Representatives from the embassy and the USABC delegation commended the Royal Government of Cambodia’s efforts to improve the investment climate through the process of public-private dialogue between the US and Cambodia,” said the release.
“This dialogue shows positive progress in promoting transparency, reducing the cost of doing business and creating a level playing field for American companies,” it added.
Currently, US investment supports over one million jobs in Cambodia, and the US remains Cambodia’s largest market.
“American companies are recognised as having world-class standards, adhering to national and international laws, providing high-quality products and services, and contributing to communities through professional development and corporate social responsibility initiatives,” the release continued.
The embassy described bilateral relations between the US and Cambodia as stronger than ever, noting that the USABC delegation’s visit to Cambodia followed the signing of a reciprocal trade agreement between the US and Cambodia on October 26 in Kuala Lumpur by President Donald Trump and Prime Minister Hun Manet.
Currently, Cambodian goods imported into the US are subject to a 19 per cent tariff, while American goods imported into Cambodia face zero per cent customs duty.
“The reduction of import duties on most US-sourced goods and Cambodia’s commitment to address market barriers have spurred increasing US exports to Cambodia,” it said, adding that the embassy remains committed to working closely with the Cambodian government to fully implement the reciprocal tariff agreement and strengthen trade and investment ties for mutual prosperity.
