Cambodia's exports to the US grow rapidly in 2018

Release time:

2019-05-13

According to statistics, Cambodia's exports to the United States, the world's largest economy, grew by 25% in the last (2018) year. It can be seen that although Cambodia's dissolution of the main opposition party before the general election led to the deterioration of diplomatic relations between the United States and Cambodia, the volume of trade between the two countries still showed significant growth.

In July 2016, Cambodia received duty-free concessions for travel products such as suitcases, backpacks, handbags and wallets to be exported to the United States under the Generalized System of Preferences (GSP) treatment provided by the United States.

Long Kemvichet, a spokesman for the Cambodian Ministry of Commerce, told reporters that the implementation of GSP (GSP) treatment for tourism products exported to the United States is the main reason for the growth of Cambodia's exports to the United States, and they are lobbying the US government to expand the GSP treatment for Cambodia. Qu said that the Cambodian Ministry of Commerce has submitted a petition to the United States, hoping that the United States will extend the GSP to clothing and footwear. If the petition is successful, Cambodia will have more opportunities to expand exports to the United States.

K's also stressed the need to prepare manufacturing and export industries to compete without trade privileges. Qu said that Cambodia needs to strengthen its productivity and trade competitiveness so that it can compete with other exporting countries regardless of whether it enjoys preferential treatment.

In November 2017, the Supreme Court of Cambodia dissolved the main opposition party, and the US government imposed visa restrictions on some Cambodian government officials. Since then, diplomatic relations between the two countries have been strained.

Kaing Monika, deputy secretary-general of the Garment Manufacturers Association of Cambodia (GMAC), said that although bilateral relations are generally believed to be deteriorating, there are still good trade relations between the two countries. For the private sector, the relationship is good. One or two senators expressed concern about the Cambodian government, but that does not represent the entire U. Cambodia has now become an alternative supplier to many American businesses that import from mainland China. At the same time, Qu said that Cambodia's exports to the United States are not only about growth, but also about diversification.

In the first 11 months of 2018, Cambodia's exports to the United States under the GSP totaled $0.675 billion billion. Exports included $0.321 billion for tourism goods, $0.133 billion for plastic products, $78 million for wood products, $51 million for furniture, $21 million for steel products, and $14 million for auto parts. In addition, according to the U.S. Trade Office, Cambodia's total exports to the United States increased from $3.06 billion in 2017 to $3.82 billion in 2018. U.S. exports to Cambodia reached $0.4466 billion billion in 2018, up 11% from $0.4002 billion in 2017.

Talk about fighting, may become the norm of Sino-US economic and trade friction.

Return to List

Turkey makes anti-circumvention final cut on Chinese fiber fabrics

More information