The United States and Cambodia have finalized an Agreement on Reciprocal Trade, aiming to enhance economic ties between the two countries. The new agreement is expected to provide exporters from both nations with expanded access to each other's markets. This initiative builds on the U.S.-Cambodia Trade and Investment Framework Agreement established in 2006.
One notable provision of the agreement allows the United States to consider its impact on national security when making trade decisions, particularly those related to section 232 of the Trade Expansion Act of 1962.
Officials from both countries will now begin their respective domestic procedures necessary for the agreement to take effect.
"The United States of America (the United States) and the Kingdom of Cambodia (Cambodia) have reached an Agreement on Reciprocal Trade to strengthen our bilateral economic relationship, which will provide both countries’ exporters unprecedented access to each other’s markets. The Agreement on Reciprocal Trade will build upon our longstanding economic relationship, including the U.S.-Cambodia Trade and Investment Framework Agreement signed in 2006."
"Key terms of the Agreement on Reciprocal Trade (the Agreement) between the United States and Cambodia include:
The United States may positively consider the effect that the Agreement has on national security, including taking the Agreement into consideration when taking trade action under section 232 of the Trade Expansion Act of 1962, as amended (19 U.S.C. 1862)."
"In the coming weeks, the United States and Cambodia will undertake domestic formalities in advance of the Agreement entering into force."
