Cambodia is currently an attractive business destination for several reasons, including its open market economy and ongoing initiatives to improve transparency, accountability, and effectiveness in the business sphere.
Cambodia is a member of the World Trade Organization (WTO). The country has a Most Favoured Nation status and Generalised System of Preferences program benefits, including Everything But Arms program benefits concerning trade activities with other countries. Its membership of the Association of Southeast Asian Nations (ASEAN) fosters economic cooperation, social progress, and cultural development among ASEAN members. The southeast Asian country is a signatory to the recent Regional Comprehensive Economic Partnership amongst the ASEAN nations, China, Japan, South Korea, Australia and New Zealand and is on track to be the region’s fastest-growing economy by 2026. The country’s economy depends heavily on exports of garments and agricultural products, tourism and logistic services, real estate development, education, trading activities, telecommunication services, and growth in service sectors.
GDP growth (2019)***