A business delegation, who are members of the Cambodia Chamber of Commerce (CCC), will fly to two cities in the US from May 8 to 15 along with Prime Minister Hun Sen to meet the American businesspeople during the US-Asean Summit in Washington.
Mong Reththy, a member of CCC and president of conglomerate Mong Reththy Group, told Khmer Times that the discussion between the two parties is expected to bring more investment to Cambodia as there was no trade problem between the kingdom and the US.
“Actually, we do not have any problem with each other. The point is that due to Covid-19, all projects that used to be discussed to work together have been postponed. Now, Covid-19 has been eased, so I think those projects will be re-discussed to find a possibility to proceed again,” Reththy said.
The Cambodian business delegates will meet their private sector counterparts in New York to discuss business opportunities, economy and partnership possibilities. They will also meet representatives of the US Chamber of Commerce (USCC) in the US, US-Asean Business Council, US Special Rights of Business Association and American firms.
“This meeting will focus on main topics including the state of Cambodia economy and the US, business opportunities between the countries, information technology, construction and special rights business,” a release said.
At ACC headquarters in Washington, both business counterparts will discuss the possibility to seal a Memorandum of Understanding (MoU) between CCC and USCC.
Reththy referred the questions about the details of the MoU to Kith Meng, who leads the business, while CCC Director-General Nguon Mengtech could not be reached for comments.
A delegation of US businesses that include Chevron, Conocco Phillips, ExxonMobil, Meta, RMA Group, Roche, Amazon and 3M has recently met Mr Hun Sen at the Peace Palace to explore potential business and investment opportunities in Cambodia. Most of these companies from the automotive, health technology, and especially energy sectors see high market demand in Cambodia.
In a meeting last week, the Prime minister also encouraged US firms to continue to invest and explore other investment potential in Cambodia in the future.
Bilateral trade between Cambodia and the US reached $2.2 billion in the first
quarter of 2022, a 41.5 percent increase compared to the same period in 2021, which is worth more than $1.5 billion.
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