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• GDP: US$4.2 billion. • Main exports: Dried fish, pepper, rice, rubber, tobacco, clothing, wood and vegetables. • Main imports: Petroleum products, gold, construction materials, cigarettes, machinery, motor vehicles and pharmaceutical products. • Main trade partners: Vietnam, USA, Germany, UK, Thailand, Hong Kong (SAR), Singapore, China, Taiwan and Korea (Rep).
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| Economy |
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The Cambodian economy was all but destroyed by the war in South-East Asia, following the rule of the Khmer Rouge between 1975
and 1979. Since the ousting of the Khmer Rouge from power by the Vietnamese in 1979, Cambodia has undergone a slow process
of recovery. Restoration of agriculture – the foundation of the Cambodian economy and the main source of employment – has
been slow but steady. Rice is the staple; other products include maize, sugar cane, cassava and bananas. The timber industry
has also grown quickly on the back of heavy foreign investment and meets both domestic fuel demands and export markets - but
at the expense of worrying deforestation. Timber is, along with rubber, the source of most of Cambodia’s export earnings.
Other mineral resources, which include phosphates, iron ore, bauxite, silicon and manganese, are limited. There is a small
but fast-growing industrial sector concentrated in the production of consumer goods, processed foods and light manufacturing.
This has largely relied on foreign investment, most of which has come from elsewhere in East Asia (especially Thailand), as
more developed economies seek to take advantage of Cambodia’s lower labour costs. GDP growth has reached 6 per cent annually
since 2000, with construction activity particularly extensive, especially in the capital. The effects of the 1997 currency
crisis on the economy were transitory, given the relatively undeveloped state of the Cambodian economy. Cambodia aspires to
the status of an Asian ‘tiger’ economy and has joined, along with its neighbour Vietnam, the Association of South-East Asian
Nations (ASEAN), now the principal regional economic co-operation body.
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| Business etiquette |
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Shirt and tie should be worn. Some knowledge of French would be useful. Business hours: Mon-Fri 0800-1200 and 1400-1700.
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