Country Analysis on Business in Cambodia

Introduction

Cambodia has come a long way in the past decade. It has achieved domestic peace and has held elections. The economy has grown in certain sectors, such as tourism which have taken off. Cambodia has joined the World Trade Organization (WTO) resulting in greater access to export markets.

Cambodia has shown great promise in this grave economy that we all see ourselves in. They have set forth new ways of doing business to ensure they can compete in more markets. With so many challenges with the political system they have been able to overcome those obstacles and keep a somewhat stable economy.

Poverty has dropped. Primary enrolments have risen and young children spend more time in school. HIV-AIDS prevalence has dropped and Cambodia is seen as a model of HIV-AIDS prevention from which many other countries can learn.

Cambodia has potential that many don't see yet and we possibly might not realize what we could do for this country. Cambodia is a beautiful country that has so promise that I would like to take this time to tell you more about the type of country it is and the opportunity we might be able to have in this growing economy that I know it can be.

Country Analysis

While continuing the research on your trip to Cambodia I was able to dig deeper in regards to the circumstances affecting business, consumers and the overall market conditions in today's economy.

Cambodia might be a developing country but has seen so much growth and opportunity in last 11 years. Previous to 1980, Cambodia was transformed from a command economy to a free market. In 1999, Cambodia joined the Association of Southeast Asian Nations (ASEAN) and in 2004 became a member of the World Trade Organization (WTO). When reading some information on the export.gov website I came across the fact that Cambodia ratified the ASEAN Framework Agreement on Mutual Recognition Arrangements. It has also signed numerous trade agreements, including the U.S.-Cambodia Trade and Investment Framework Agreement (TIFA) in 2006, which facilitates and promotes greater trade and investment of the two countries and provides a forum to address bilateral trade and investment issues. Two successful meetings were held under the TIFA in 2007 in which the U.S. and Cambodian governments discussed WTO accession requirements, trade facilitation and economic development initiatives, and progress on intellectual property rights. In 2008, several bilateral working level meetings were held to advance the TIFA agenda (Export.gov). This information shows that Cambodia is ready to develop a country where they can work internationally and grow the overall production of their country. While being a part of these different organizations Cambodia has had to tighten regulations for the country. Unfortunately, Cambodia has been a little behind in regards