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Logo of Phnom Penh Post newspaper Phnom Penh Post - US wants more trade, investment

US wants more trade, investment

US wants more trade, investment

The United States and Cambodia have signed an agreement to increase trade and investment

as part of a broader American initiative in the region, the US Trade Representative's

office in Washington (USTR) said.

America has "trade and investment framework agreements" (TIFAs) with several

countries in Southeast Asia. The frameworks create a bilateral forum to work on trade

issues and can be a stepping stone to free-trade pacts.

"We welcome Cambodia into our family of TIFA partners in Southeast Asia,"

Deputy US Trade Representative Karan Bhatia said.

"We look forward to building our trade and investment relations under this dialogue,

working more closely on regional and WTO issues, and helping Cambodia fully implement

its WTO obligations."

Last weekend the Doha round of World Trade Organization talks was suspended. The

European Union and India blamed the Bush administration for refusing to reduce its

$20 billion a year in subsidies to American farmers.

US exports to Cambodia increased 18 percent to nearly $70 million in the past year

and have risen steadily since Cambodia joined the WTO in October 2004, USTR said.

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