Phnom Penh (Rasmei Kampuchea Daily/ANN) - US Trade Representative Ron Kirk announced yesterday that the United States and Cambodia had agreed to begin exploratory discussions on a potential bilateral investment treaty.
The announcement followed a meeting between Kirk and Commerce Minister Cham Prasidh on the sidelines of the annual meeting of Asean economic ministers.
"Experts in the United States and Cambodia will now discuss our respective investment policies and investment agreements to determine key similarities and differences," a USTR statement said.
The discussions will be held "with an eye to sharing approaches and opening further discussions based on the US model text for bilateral investment treaties," it added.
Kirk said that such a treaty would "encourage investment by improving investment climates, promoting market-based economic reforms, and strengthening the rule of law.
"Our decision to explore this possibility highlights progress made by Cambodia in fostering a policy environment that treats private investment in an open, transparent, and non-discriminatory way," he said.
The statement said the United States had more than 40 bilateral investment treaties in force with countries around the world.
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