Showing posts with label CAMBODIA'S ECONOMY. Show all posts
Showing posts with label CAMBODIA'S ECONOMY. Show all posts

Sunday, June 17, 2012

U.S.-CAMBODIA RELATIONS


Map Credit:  U.S. State Department Website:
FROM:  U.S. DEPARTMETN OF STATE
U.S. Relations With Cambodia
Bureau of East Asian and Pacific Affairs
Fact Sheet
June 13, 2012
Over the last several decades of the 20th century, the United States and Cambodia established, broke off, and reestablished relations as a result of armed conflict and government changes in Cambodia. Full diplomatic relations were established after the freely elected Royal Government of Cambodia was formed in 1993. In recent years, bilateral relations between the U.S. and Cambodia have deepened and broadened. The two countries have worked together to increase trade and address challenges from promoting regional security and democracy to expanding global health and development. The U.S. supports efforts in Cambodia to combat terrorism, reduce the prevalence of HIV/AIDS, build democratic institutions, promote human rights, foster economic development, eliminate corruption and trafficking in persons, achieve the fullest possible accounting for Americans missing from the Indochina conflict in the 1960s and 1970s, and to bring to justice those most responsible for serious violations of international humanitarian law committed under the 1975-79 Khmer Rouge regime.

U.S. Assistance to Cambodia
Cambodia is at peace after decades of conflict, although important challenges remain. Cambodia relies heavily on foreign assistance--about half of the central government budget depends on donor aid. U.S. assistance makes significant contributions to the country’s development. In 2010, U.S. Agency for International Development (USAID)-administered assistance was approximately $70 million for programs in health, education, governance, and economic growth.

Bilateral Economic Relations
Cambodia's economy suffers from the legacy of decades of war and internal strife. The economy is heavily dollarized; the dollar and riel can be used interchangeably. The U.S. normalized economic relations with the country in 1992 and is one of Cambodia's major trading partners. Manufacturing output is concentrated in the garment sector, and garments dominate Cambodia's exports, especially to the U.S. and the European Union.

Cambodia's Membership in International Organizations
Cambodia became a member of the United Nations in 1955 following independence from France in 1953. Cambodia and the United States belong to a number of the same international organizations, including the UN, International Monetary Fund, World Bank, and World Trade Organization.



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