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By APD writer Kin Ratha
**PHNOM PENH, June 6, (APD) ** - Cambodia's Economy and Finance Minister said last week the escalation tit-for-tat tariffs between United State and China have not yet seen any adversely affect Cambodia’s economy, though with more or less some experts said the tension has impacted on Asia region.
Cambodia, in the short-and-medium term, has not received any negative impact or immediate effect of trade tension – but brought opportunities in return for expanding market and attract the additional flow of foreign investor to the country, Minister Aun Pornmoniroth, said during a meeting with EU-ASEAN Business Council.
“Although the Cambodia economy is small, it is open, favorable, and the market export for Cambodia is comprehensive to both European Union and United State,” he said.
He noted that export and FDI to Cambodia has remained growing. “This means that the tension could create opportunities for developing countries such as Cambodia expanding its market for export, and attracting more FDI,” he added.
However, the minister acknowledged that the trade war will negatively impact on Cambodia – if this trade dispute between the largest economies to have been prolonged.
According to Mr. Pornmoniroth, the effect would be the decreasing in the flow of international arrival and foreign investment to Cambodia as a result of the slowdown global economy.
“In this context, Cambodia is ready to prevent against any negative influence on its economy at all costs by outlining concrete measures to promote trade competitive in term of attracting more investment to strengthen internal economic growth,” he emphasized.
As of current status, China and U.S governments are imposing each other with at least $250 billion in tariffs.
(ASIA PACIFIC DAILY)
