Smooth trade to put $2B exports in reach
Cambodia could expand its foreign trade by up to 16 percent, adding approximately $2 billion worth of exports, by complying with a new international trade protocol that aims to slice through the red tape that slows and complicates cross-border trade. US Ambassador William Heidt said on April 4 that Cambodia’s competitiveness would improve significantly once it fully ratifies all 12 articles of the World Trade Organization’s Trade Facilitation Agreement. He said compliance with the landmark global accord “would reduce the costs of exporting goods and services and ease the flow of commerce across Cambodia’s international borders that would directly boost economic growth”.
