The delegation was led by Jason Smith, chairman of the US House committee on ways and means.
Cambodian commerce minister Pan Sorasak recently discussed with a visiting US delegation ways to strengthen the country’s ties with the United States and requested renewing the Generalised System of Preferences for some products, including garments, footwear and travel goods.
He appealed to US firms to invest more in Cambodia to reduce the trade deficit.
The minister appealed to US firms to invest more in Cambodia to reduce the trade deficit between the two countries, Cambodia media outlets reported citing a ministry statement.
Cambodia was one of the largest beneficiaries under the GSP that ended in December 2020.
Cambodia’s exports to the United States reached over $4.2 billion in the first half this year—an year-on-year drop of 8.9 per cent. The former’s shipment to the latter accounted for 37 per cent of the total export volume of about $11.5 billion. Imports from the latter to the former decreased by 29 per cent to $119 million in the first half this year.
Fibre2Fashion News Desk (DS)