Cambodia announces removal of import tariffs on US industrial and agricultural goods

Cambodia and the United States have reached an unprecedented trade agreement under which US industrial and agricultural exports to Cambodia would be exempt from import tariffs with immediate effect, according to the report. It describes the decision as a new phase in economic and trade relations, creating further opportunities for businesses in both countries. Citing a White House statement issued on 26 October, the report says Cambodia agreed to eliminate all tariffs on US goods, including food, agricultural products and industrial manufactures. US exporters would therefore gain tariff-free access to the Cambodian market, described as a major first in the two countries’ trading history. Cambodia said it would make the import process for US products more transparent and recognise relevant US regulatory standards so that the goods could enter without additional testing procedures. The report describes this as helping US exporters become more competitive and diversifying the Cambodian market. The agreement was reached during talks between Cambodian Prime Minister Hun Manet and US President Donald Trump in Malaysia. The meeting coincided with the signing of the Cambodia–Thailand peace agreement and was viewed as a new beginning for regional cooperation, peace and mutual benefit. Analysts said Cambodia’s move would attract more foreign investment, stimulate domestic industrial upgrading and further strengthen its economic position in Southeast Asia. Compiled report by this station