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U.S., Cambodia to explore possibility of investment treaty

Source:   Time:

SIEM REAP, Cambodia, Aug. 31 (Xinhua) -- U.S. Trade Representative Ron Kirk announced Friday that the United States and Cambodia have agreed to begin exploratory discussions on a potential bilateral investment treaty, according to a press release from the U.S. Embassy in Phnom Penh.

The announcement followed a meeting here between Kirk and Cambodian Commerce Minister Cham Prasidh, the chair of the 44th ASEAN Economic Ministers Meeting and related meetings, which were opened on Monday and lasted until Friday.

"Experts in the United States and Cambodia will now discuss our respective investment policies and investment agreements to determine key similarities and differences, with an eye to sharing approaches and opening further discussions based on the U.S. model text for bilateral investment treaties," said the press release.

"A bilateral investment treaty between the United States and Cambodia would encourage investment by improving investment climates, promoting market-based economic reforms, and strengthening the rule of law," Kirk said. "Our decision to explore this possibility highlights progress made by Cambodia in fostering a policy environment that treats private investment in an open, transparent, and non-discriminatory way."

A bilateral investment treaty provides binding legal rules regarding one country's treatment of investors from another country.

Editor: Lu Hui

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