The Cambodian Chamber of Commerce (CCC) has initiated a business mission to Long Beach, California, led by CCC vice-president Tan Monivann, involving over 50 Cambodian companies. This delegation will participate in the 2024 US-Cambodia Business Matchmaking Summit from September 17-21, with the goal of expanding the Cambodian export market in the US, particularly for agricultural products. The first eight months of 2024 witnessed a trade volume nearing $7 billion between Cambodia and the US.
The mission's agenda includes presentations on market trends, regulatory compliance, and logistical systems, aimed at equipping Cambodian entrepreneurs with essential knowledge for penetrating the American market. Cambodia plans to showcase a variety of products, including rice, pepper, cashew nuts, and frozen goods like longan and durian. Additionally, the delegation's itinerary features visits to supermarkets and product distribution companies to gain insights into the US demand and supply chain logistics.
Nguon Mengtech, CCC director-general, highlighted the chamber's history of facilitating such programs since 2011 to bolster Cambodian exports to the US. The General Department of Customs and Excise reported a 10.4% increase in trade between Cambodia and the US, totaling $6.92 billion from January to August, with Cambodian exports at $6.75 billion. The US ranks as Cambodia's second-largest trading partner after China.
Challenges such as long transportation times due to the distance between Cambodia and the US were noted by Phot Saphanborey, board director of Pechenda Fruit Production PFP Co Ltd. He emphasized the importance of quality in cultivation, harvesting, and packaging to meet the standards of the US market, despite the interest in Cambodian products like longan and durian.
Source: The Phnom Penh Post