(Phnom Penh): Sun Chanthol, First Vice Chairman of the Council for the Development of Cambodia (CDC), asserted that the newly established 19 per cent tariff rate on Cambodian exports to the United States will allow Cambodia to compete effectively with neighbouring and regional countries, speaking at a press conference on Friday (Aug. 1).

“This new 19% rate positions us to compete with neighbouring countries across the board,” Sun stated, adding that the reduction will help retain existing factories, support expansions, and attract new investors, ultimately creating more jobs for Cambodians.

He highlighted the scale of the tariff drop: “From 49 percent to 19 percent, this is a 30-point cut, or 61.2 percent in relative terms. This marks the largest reduction for any country globally.”

He stressed that this historic tariff cut was made possible thanks to the guidance and vision of Prime Minister Hun Manet, as well as the dedicated efforts of the negotiation team, who engaged the US in honest and sincere talks.

At the same time, Sun Chanthol also called on Cambodian migrant workers abroad to consider returning home, as the improved investment climate is expected to create tens of thousands of new jobs.
=FRESH NEWS