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1994-05-02
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<text>
<title>
Cambodia: World Trade Outlook
</title>
<article>
<hdr>
World Trade Outlook 1992: Cambodia
U.S. Business Can Help in Peace and Reconstruction
</hdr>
<body>
<p>By Hong-Phong B. Pho
</p>
<p>After a decade of devastating warfare in the 1970s and another
of international isolation and neglect in the 1980s, Cambodia is
beginning to rejoin the world community with the signing of the
United Nations-sponsored Paris peace agreement in October 1991.
The agreement calls for the largest and most ambitious U.N.
peace-keeping operation ever, including U.N. administration of
the country leading up to general elections in spring 1993.
Until President Bush lifted the U.S. economic embargo in
January, there was virtually no U.S.-Cambodia trade.
</p>
<p> The U.N. Transitional Authority in Cambodia (UNTAC) is
expected to arrive in Cambodia by early to mid-April. A budget
of $1.9 billion, of which the United States is responsible for
more than 30 percent, has been proposed for UNTAC's operations.
In addition, $900 million will be drawn from voluntary
contributions for the repatriation and resettlement of
Cambodian refugees on the Thai border and the internally
displaced. This money will find its way into the Cambodian
economy, one of the poorest economies in the world.
</p>
<p> UNTAC deployment will represent the most significant source
of financial resources for Cambodia for the near future. U.S.
firms can expect opportunities to become available for a wide
range of goods and services required by the U.N. for its
peace-keeping and refugee resettlement operations. Being
involved in the early crucial phase of business development will
position American companies well vis-a-vis the competition for
the future reconstruction phase. Longer-term opportunities can
be expected from multilateral, bilateral, and international
financial institutions' projects for the reconstruction and
development of Cambodia.
</p>
<p> While there is a Foreign Investment Code, a business person
may have to contend with very poor financial and legal
infrastructure, bureaucratic red tape, and political
instability, at least until general elections in 1993.
</p>
<p> On the other hand, Cambodia has many opportunities to offer
pioneering entrepreneurs, including rich but untapped natural
resources. Some see Cambodia as a desirable economic partner
where Japanese influence is still less pervasive than in other
Southeast Asian countries. Others look at Cambodia as their
gateway to post-embargo Vietnam. Many are exploring potential
opportunities.
</p>
<p> For additional information, contact the Commerce Department
Desk Officer on (202) 482-3875.
</p>
<p>Source: International Trade Administration, Business America Magazine
</p>
</body>
</article>
</text>