A delegation from the Cambodia Chamber of Commerce (CCC) is extending its stay in the US to study the terms and procedures for exporting processed agricultural products to the American market.
CCC member Hun Lak – who accompanied Prime Minister Hun Manet on his recent US trip for the 78th UN General Assembly (UNGA 78) in New York City – said the group would also head to the US state of California to inspect a possible venue for an exhibition of Cambodian products in Long Beach, where members of the Cambodian diaspora are concentrated, in November.
“American backers want us to exhibit potential processed products at the business trade fairs in Long Beach, to explore further cooperation,” said Lak, the CEO of Tropicam Fruit and Vegetable Co Ltd.
On exports of processed agricultural products, Lak said the team is in continued discussions with US stakeholders.
“We need to study some terms and conditions as well as procedures involved in the process of selling to this market,” he said, noting that previously most Cambodia exports were textiles, garments, bags, footwear, travel goods and bicycles.
Jean-Francois Tain, a geopolitical expert and attache to the prime minister, told a press conference at Phnom Penh International Airport upon Manet’s return that the new government consistently seeks benefits for the nation during foreign visits. He cited a recent US-Cambodia Business Forum in New York that aimed to entice more American businesses and capital providers to the Kingdom.
“[Manet] has been persuading more American businesses aside from Ford, Coca Cola and General Electric to pursue investment [opportunities] in Cambodia as their number remains relatively small,” Tain said.
He further noted that enhanced bilateral relationships would yield greater mutual benefits, spanning economies, trade, politics and geopolitics.
Manet outlined six key government focus areas to attract more funding: refining administrative procedures; reducing transport and logistics costs; improving infrastructure; promoting vocational training and skills; enhancing good governance; and introducing investment-friendly laws, especially in technology, electric vehicles (EVs), green energy and health sectors.
The General Department of Customs and Excise of Cambodia (GDCE) reported a trade volume of $6.27 billion between the two countries in the first eight months of this year, marking a 5.6 per cent decrease over the same period in 2022.
