Phnom Penh: Cambodia is strengthening trade relations with partner countries as it faces new reciprocal tariffs imposed by the U.S.
According to Agence Kampuchea Presse, speaking at a gathering with more than 5,000 leaders from informal economy unions and academic staff associations on the occasion of the 139th Anniversary of International Labour Day (May 1), held this morning, Prime Minister Samdech Moha Borvor Thipadei Hun Manet emphasized Cambodia's efforts to diversify its trade partnerships.
The Premier announced that he will visit Japan next month, where the expansion of trade ties will be a key agenda item. He also noted that he had discussed the expansion of trade cooperation with his Thai counterpart during her recent visit to Cambodia and plans to continue strengthening relations with partner countries at the upcoming ASEAN Summit in an effort to attract more investment.
"The Royal Government will continue to welcome investors from all countries to invest in Cambodia. This is what I must do!" he underlined.
Addressing concerns over the U.S. reciprocal tariffs, Samdech Thipadei Hun Manet clarified that the situation is not Cambodia's fault. He explained that while the U.S. has the right to adjust its tariff policies, Cambodia is among nearly 200 countries affected by the new measures.
The Prime Minister also re-appealed to his compatriots to trust in the Royal Government's commitment to safeguarding livelihoods and protecting the interests of all citizens.
Earlier this month, U.S. President Donald Trump introduced a 'reciprocal tariffs' policy - now paused for 90 days - under which Cambodian goods face tariffs of up to 49 percent when exported to the U.S.