Cambodia requests US to renew GSP scheme

The delegation was led by Jason Smith, chairman of the US House committee on ways and means.

The minister appealed to US firms to invest more in Cambodia to reduce the trade deficit between the two countries, Cambodia media outlets reported citing a ministry statement.

Cambodia was one of the largest beneficiaries under the GSP that ended in December 2020.

Cambodia’s exports to the United States reached over $4.2 billion in the first half this year—an year-on-year drop of 8.9 per cent. The former’s shipment to the latter accounted for 37 per cent of the total export volume of about $11.5 billion. Imports from the latter to the former decreased by 29 per cent to $119 million in the first half this year.

ALCHEMPro News Desk (DS)