TIFA between US & Cambodia to raise trade & investment
31 Jul '06
3 min read
Bhatia said the United States looks forward to building bilateral trade and investment relations under the agreement, working more closely with Cambodia on regional and global issues and helping Cambodia fully implement its World Trade Organization (WTO) accession obligations.
Cambodia became a member of the WTO in October 2004, one of the first "least developed countries" to join the organization through the full process of negotiation with a working party of other WTO members.
Since Cambodia's WTO accession, U.S. exports to that country have increased. In 2005, U.S. exports to Cambodia rose 18 percent, reaching almost $70 million. Cambodia's exports to the United States were $1.7 billion in the same year.
According to USTR, two-way trade between the United States and the ASEAN countries has increased considerably over the last decade, totaling $150 billion in 2005. As a combined group, ASEAN is the United States' fourth largest trading partner.
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