Cambodia asks the United States to review the IMF

Tuesday, August 29, 2017Phnom Penh: Generalized System of Preferences (GSP), a US trade program set up to promote economic growth in developing countries. By offering up to 4,800 VAT-exclusive items from 129 designated target countries Country.While the United States is promising to developing countries that will benefit under the law, Cambodia has also asked the United States Review the terms of favoritism as well.In a working session with Marta Prado, Southeast Asia and Pacific Trade Representative, US Trade Representative earlier this week, Mr. Oklahoma The secretary of state at the Ministry of Commerce has asked the United States to include Cambodia's main commodities, including clothing, gear and other products. At 338, 339, 347, 348, 647, 648, 334, 634, 638, 639, 335 and 635 to the GSP to ensure that Cambodia Will get the true benefits of exports to the United States.On that occasion, the Secretary of State said that, according to the spirit of the Joint Declaration of the Ministerial Conference in Hong Kong, the US Government promised That will give the least developed countries, including Cambodia, the import tariffs to the US market At least 97% in condition The GSP-Free Trade Agreement (GSP-DFQF) of the World Trade Organization but by 2017, the largest trade partner country Cambodia's second only offers 82.6% favor.The Secretary of State added that US goods supplied to Cambodia at around 82.6 percent did not contain significant potential products that Cambodia could produce. And export to the United States as a poor country, ie, those potential products subject to tax obligations as developed countries. Other available Economic growth over Cambodia.The call to US trade representatives is also supported by the Garment Manufacturers Association in Cambodia (GMAC) On August 28, the association issued a statement supporting the Ministry of Commerce's request to the US Government to consider granting Additional tax preferences To Cambodia.Associate Secretary-General Kaing Monika said in a statement that GMAC supported the Ministry of Commerce in requesting the United States Review the GSP for Cambodia "so that this poor country gets more market access.""We thank them [American officials] to meet with all the stakeholders to see," he said The full picture of Cambodia. GMAC supports the ministry's request and wants to call the same to the US government. ""There should be reasonable thinking for Cambodia when the country has been doing well in improving conditions Employment in the garment and footwear industry. Now the workers get a fair salary, allowing many families to leave poverty. " According to Kaing Monika.He added that upgrading the working conditions for factory workers was a critically important US-set target To granting tax preferences.While Marta Prado, Southeast Asia and Pacific Affairs Representative, the US Trade Representative also asked the Cambodian side to review the item. Cambodia enjoys tax benefits from the United States, while the United States has been announcing to countries that will benefit under the law. It reviews the system Rainbow of Preferences (GSP) for 2017.Reminding that the US Government is reviewing the provision of the GSP preferential system to the least developed countries in the category of commodities Footwear by the end of December, while the GMAC is also preparing relevant documents to be filed in the future.According to the General Department of Customs and Excise, exports of clothing and footwear, accounting for 78% of total exports Cambodia increased 7.2 percent to $ 7.3 billion in 2016, up from $ 6.8 billion in 2015.