WORLD  TRADE  
ORGANIZATION  RESTRICTED 
WT/TPR/S/253 
27 September 2011  
 
(11-4505) 
Trade Policy Review Body  
   
 
  
 
TRADE POLICY REVIEW 
 
Report by the Secretariat 
 
CAMBODIA 
 
  
 
This report, prepared for the first Trad e Policy Review of Cambodia, has been 
drawn up by the WTO Secretariat on its own responsibility.  The Secretariat has, 
as required by the Agreement establishing the Trade Policy Review Mechanism 
(Annex 3 of the Marrakesh Agreement Establishing the World Trade 
Organization), sought clarification from Cambodia on its trade policies and 
practices. 
 
Any technical questions arising from this report may be addressed to Mario 
Kakabadse (tel.:  022 739 5172). 
 
Document WT/TPR/G/253 contains the policy statement submitted by 
Cambodia. 
 
 
 
Note: This report is subject to restricted ci rculation and press embargo until the end of the 
first session of the meeting of the Trade Policy Review Body on Cambodia.  
 
 
 Cambodia WT/TPR/S/253 
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CONTENTS 
 
  Page 
SUMMARY   vii 
 (1) E CONOMIC ENVIRONMENT  vii 
 (2) T RADE POLICY FRAMEWORK  vii 
 (3) T RADE POLICY DEVELOPMENTS  viii 
 (4) S ECTORAL POLICY DEVELOPMENTS  x 
 (5) O UTLOOK  xi 
I. ECONOMIC ENVIRONMENT 1 
 (1) I NTRODUCTION  1 
 (2) E CONOMIC AND POLICY DEVELOPMENTS AFFECTING TRADE  1 
 (i) Main economic developments 1  (ii) Main macroeconomic policies 3 
 (iii) Trade competitiveness 4 
 (iv) Current account 6 
 (3) D
EVELOPMENTS IN TRADE AND FDI 6 
 (i) Merchandise trade 7 
 (ii) Services trade 10  (iii) Foreign direct investment (FDI) 10 
 (4) O
UTLOOK  11 
II. TRADE POLICY REGIME:  FRAMEWORK AND OBJECTIVES 13 
 (1) I NTRODUCTION  13 
 (2) T RADE POLICY FRAMEWORK AND IMPLEMENTATION  13 
 (i) General institutional and regulatory framework 13  (ii) Trade policy objectives 15 
 (iii) Trade policy formulation and implementation 16 
 (iv) Main trade and related laws 18 
 (3) I
NTERNATIONAL TRADING RELATIONS  21 
 (i) World Trade Organization 21 
 (ii) ASEAN 23 
 (iii) Other trading relations 24 
 (4) F OREIGN DIRECT INVESTMENT REGIME  25 
 (i) Legal framework 25 
 (ii) Bilateral investment agreements 27 
III. TRADE POLICIES AND PRACTICES BY MEASURE 28 
 (1) I NTRODUCTION  28 
 (i) Trade policy prior to WTO accession 28 
 (ii) Main accession commitments 28 
 WT/TPR/S/253 Trade Policy Review 
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  Page 
 (2) M
EASURES DIRECTLY AFFECTING IMPORTS  29 
   (i) Customs procedures 29 
   (ii) Tariffs and other taxes and charges affecting imports 32    (iii) Customs valuation 39 
   (iv) Preshipment inspection (PSI) 39 
 (v) Rules of origin 40  (vi) Import prohibitions, quotas, and licensing 40 
 (vii) Anti-dumping, countervaili ng duties, safeguard regimes 41 
 (viii) Government procurement 41  (ix) State trading en terprises (STEs) 43 
 (x) Other measures 43 
 (3) M
EASURES DIRECTLY AFFECTING EXPORTS  43 
 (i) Procedures 43 
 (ii) Export taxes 44 
 (iii) Export restrictions 44  (iv) Export subsidies 45 
 (v) Export promotion 45 
 (vi) Special economic zones 46 
 (4) M
EASURES AFFECTING PRODUCTION AND TRADE  48 
 (i) Regulatory framework 48  (ii) Technical barriers to trade 51 
 (iii) Sanitary and phytosanitary measures 54 
 (iv) Trade-related intellectual property rights (TRIPS) 58 
IV. TRADE POLICIES BY SECTOR 65 
 (1) I
NTRODUCTION  65 
 (i) Overview of the economy 65  (ii) Export potential by sector 67 
 (2) A
GRICULTURE  68 
 (i) Sector situation 68  (ii) Regulatory framework 68 
 (iii) Agricultural trade policies 69 
 (iv) Policy developments in selected sub-sectors 70 
 (3) M
INING AND ENERGY  74 
 (i) Mining 74 
 (ii) Oil and gas 75 
 (4) U TILITIES  75 
 (5) M ANUFACTURING SECTOR  76 
 (i) Overview 76 
 (ii) Garment industry 77 
 (6) P OLICIES AFFECTING TRADE IN SERVICES  79 
 (i) Introduction 79 
 (ii) Tourism 81 
 (iii) Transport services 83  (iv) Financial services 85 
 (v) Telecommunications 87 Cambodia WT/TPR/S/253 
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  Page 
V. AID FOR TRADE         89 
 (1) O VERVIEW  89 
 (2) E NHANCED INTEGRATED FRAMEWORK (EIF) 89 
 (3) A ID FOR TRADE :  TRADE SECTOR -WIDE APPROACH  90 
 (4) WTO  TRADE -RELATED TECHNICAL ASSISTANCE  92 
 (5) A ID FOR TRADE RESULTS  93 
 (i) Implementation of the Work Programme of  Legal Reforms and 
Commitments Resulting  from WTO Accession 93 
 (ii) Trade facilitation 94  (iii) Exports of rice 94 
 (iv) Trade SWAp and aid-for-trade coordination and management 95 
 (6) T
RADE DEVELOPMENT IMPACT  96 
REFERENCES   97 
APPENDIX TABLES  101 
 
CHARTS 
 
I. ECONOMIC ENVIRONMENT 
 
I.1 Production composition of merchandise trade (SITC Rev. 3), 2005 and 2010 8 I.2 Direction of merchandise trade, 2005 and 2010 9 
 
III. TRADE POLICIES AND PRACTICES BY MEASURES  
III.1 Average applied MFN tariff rates, by HS section, 2003 and 2011 35 
III.2 Distribution of MFN tariff rates, 2011 36 III.3 Tariff escation by 2-digit ISIC industry, 2011 37 
 
V. AID FOR TRADE  
V.1 Strategic Framework of Trade SWap 91 
  
TABLES 
 
I. ECONOMIC ENVIRONMENT 
 
I.1 Selected economic indicators, 2004-10 2 
I.2 Trade in services, 2004-10 10 
I.3 Foreign direct investment, 2004-10 11  
II. TRADE POLICY REGIME:  FRAMEWORK AND OBJECTIVES 
 II.1 2011 update on WTO accession legal agenda 19 
II.2 Cambodia's tariff commitments under FTAs between ASEAN and its dialogue partners 24 
II.3 Number of products qualifying for preferences under selected GSP schemes 24 II.4 Foreign investment policy regime 26 
 WT/TPR/S/253 Trade Policy Review 
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  Page 
 
III. TRADE POLICIES AND PRACTICS BY MEASURES 
 III.1 Summary of trade-related taxes, 2010 33 
III.2 Share of international trade taxes in total tax revenue and forgone customs duties, 2004-10 34 
III.3 Cambodian tariff structure, 2003, 2005, and 2011 36 III.4 Summary analysis of Cambodian's MFN and CEPT tariffs, 2010 38 
III.5 Export licenses, permits, and certificates 45 
III.6 Cambodia's Special Economic Zones (SEZ-s) 47 
III.7 Incentives under the Law on Investment, 1994 and 2003 48 
 IV. TRADE POLICIES BY SECTOR 
 
IV.1 Growth and share of GDP by economic activities, 2004-10 66 IV.2 Domestic support measure, 2007 and 2008 70 
IV.3 Fisheries production, 2005-09 74 
IV.4 The garment sector, 2004-10 77 IV.5 Tourism sector, 1995-2010 81 
IV.6 International visitor arrivals by mode of transport and country of residence, 2003, 2007, and 2010 82 
IV.7 Financial soundness indicators, 2006-10 86  
 
APPENDIX TABLES 
 
I. ECONOMIC ENVIRONMENT 
 AI.1 Merchandise exports by group of products (SITC Rev.3), 2005-10 103 
AI.2 Merchandise imports by group of products (SITC Rev.3), 2005-10 104 
AI.3 Merchandise exports by destination, 2005-10 105 
AI.4 Merchandise imports by origin, 2005-10 106 
 Cambodia WT/TPR/S/253 
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SUMMARY 
1. With macroeconomic stability firmly 
entrenched by the time of Cambodia's accession to the WTO in 2004, the country 
embarked on implementing far-reaching 
reforms to achieve rapid and sustained socio-economic development.  International trade has been crucial to achieving this goal as it has been the driving force behind much of 
Cambodia's recent economic growth and 
poverty reduction, linking its economy more firmly to regional and global markets.  
(1) E
CONOMIC ENVIRONMENT  
2. Cambodia's accession to the WTO in 
2004 came in the middle of a decade of strong 
economic growth.  Its economic and social 
achievements between 1998 and 2007 were particularly impressive:  real GDP growth averaged close to 10%, the highest of any low-income country in Asia, resulting in an almost 
doubling of income per capita; the poverty 
incidence is estimated to have fallen steadily;  consumer price inflation declined markedly compared to the 1990s, and prudent fiscal policies  underpinned macroeconomic stability. The discovery of oil and gas could be 
a significant boon for the country and, if 
properly managed, should provide the necessary resources to continue addressing a range of socio-economic issues.  
3. The global recession caused the 
Cambodian economy to contract by an 
estimated 2% in 2009 and exposed Cambodia's long-standing structural vulnerabilities, notably that export-led growth remained narrowly based on garments and tourism,  In 
2010, however, driven by exports, the 
Cambodian economy achieved a stronger than expected recovery, with estimated GDP growth of 4.8%.  Cambodia remains heavily dependent on exports of garments to the 
United States and the European Union, its 
main export markets. Imports are concentrated 
in manufactures, food, and fuel predominantly from Asia.    4. Despite a costly business environment, 
Cambodia's liberal investment regime has helped to attract increa singly large inflows of 
foreign direct investment from China and 
other Asian countries notably into the garment 
industry but also into infrastructure, tourism, and property.   The authorities are aware that diversified private-sector-led growth is important for raising Cambodia's growth 
potential.  To this end, there have been 
initiatives during the review period to strengthen the investment climate, reduce the cost of doing business and improve Cambodia's international competitiveness, expand market access through trade 
agreements, and enhance agricultural 
development and rural infrastructure to help diversify the sources of growth. 
(2) T
RADE POLICY FRAMEWORK  
5. Cambodia became a member of the 
WTO on 13 October 2004 as the first LDC to 
join through the full accession process. It grants at least MFN treatment to all its trading partners.  Cambodia is a beneficiary of the GSP schemes operated by developed countries.  It has been a member of ASEAN 
since 1999.  
6. The Government's trade development 
agenda, known as its Sector-Wide Approach (SWAp) to trade, aims to sustain growth by diversifying the country's still narrow 
economic base of garments  and tourism.    The 
Trade SWAp seeks to bring together activities in the trade area around a common monitoring framework.  It is structured to deal with issues in three broad areas or strategic pillars:  
(i) reforms and cross-cutting issues for trade 
development (legal reforms, trade facilitation, TBT and SPS regulation and practice);  (ii) product and service sector export development;  and (iii) capacity building for trade development.  The Trade SWAp, 
launched by the Government in 2008 in 
consultation with development partners, also serves as Cambodia's Aid-for-Trade (AfT) strategy and has served to strengthen Cambodia's ownership and management of 
AfT.  WT/TPR/S/253 Trade Policy Review 
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7. As a result of the WTO accession 
process, Cambodia adopted a work programme that laid out a set of legal and regulatory reforms to bring its business, 
investment, and trade regimes into line with 
international norms and provide transparency and predictability.  It consists primarily of laws to achieve these goals and the subordinate legislation and administrative 
steps necessary to ensure their proper 
implementation and enforcement.  Cambodia has made considerable progress by passing legislation on the general business environment, trade in goods, services, and the protection of intellectual property rights. The 
Government is in the process of drafting 
further laws and regulations to create a favourable environment for trade and investment.  A commercial contract law and other important business-related laws are in 
draft, for example on commercial courts, 
e-commerce, telecommunications, and personal property leasing.  Cambodia is also currently preparing a draft competition law and a law on trade remedies.  
(3) T
RADE POLICY DEVELOPMENTS  
8. The customs tariff is Cambodia's main 
trade policy instrument.  It is also a major source of government revenue, amounting to 16.9% of total tax revenue in 2010.  Overall, trade-related taxes, comprising customs duties, 
VAT, and excise taxes on imports as well as 
export taxes and additional duties, accounted for over 56% of total tax revenue in 2010, down from almost 70% in 2004.  The heavy dependence on trade-relate d taxes is gradually 
declining, reducing Cambodia's fiscal 
vulnerability in line with the Government's medium-term revenue strategy to progressively reduce reliance on customs revenue by strengthening the domestic tax revenue base, which remains  low  by regional 
standards, at around 8% of GDP.  Regarding 
tariff exemptions, revenue forgone during the review period has been significantly higher than the amount of customs duties collected.   
9. In reforming its tariff structure, 
Cambodia had reduced the number of tariff bands from 12 to 4 before joining the WTO, 
and the highest tariff rates of 40%, 50%, 90% and 120% were abolished.  The tariff comprises four tiers: zero, 7%, 15% and 35%. 
The tariff rate of 35% protects several semi-
processed goods and consumer goods, such as processed meat and dairy products, processed vegetables and fruits, beverages and tobacco, footwear, and motor vehicles.  Over 53.4% of 
tariff lines are duty free or subject to the 
minimum 7% tariff rate, compared with 44% in 2001.  A standard deviation of 9.2% in 2011 indicates that there is still some dispersion of tariff rates. The average MFN applied rate on agricultural products (WTO definition), at 
14.5%, remains higher than for industrial 
goods (11.3%).  Cambodia has an escalating tariff structure with rates rising with each stage of processing.  Cambodia has reduced its overall tariff lines from around 10,700 at the 
time of accession to almost 8,300 in 2011, 
based on the HS 2007 nomenclature. 
10. Cambodia has bound 100% of tariff 
lines. The overall average bound duty rate is 20.1% while the average applied rate of duty is 11.7%.  During the review period due to 
various reasons, there were a number of tariff 
lines whose applied rates were higher than their corresponding bound rates.  In February 2011, the Government approved the modification of customs duty rates on these 
items to comply with the committed bound 
rates. Other duties and charges were bound at zero.  
11. Cambodia has been reforming its 
customs regime to streamline and improve the 
effectiveness of cust oms operations and to 
facilitate trade.  The 2007 Customs Law prepared the way for the adoption of several regulations, inter alia,  to fulfil commitments 
to ASEAN to move to the Common Effective Preferential Tariff (CEPT) scheme, to adhere 
to the 1999 Revised Kyoto Convention, and to 
implement the WTO Agreement on Customs Valuation. As of January 2011, according to the authorities, all imports comply with WTO valuation methods.  Cambodia notified the 
WTO in 2010 that it no longer has any laws or 
regulations on PSI.   Cambodia WT/TPR/S/253 
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12. The Government has streamlined 
import and export procedures.  As a result, the number of days required to process document for imports and exports, as well as export costs 
per container, have declined .  The authorities 
maintain that with  the introduction of the 
ASYCUDA system, over 90% of import declarations are cleared within 24 hours (from the filing of the goods declaration to the 
release of goods).  
13. The  2007 prohibited and restricted 
goods list identifies tariff lines that are subject to import prohibition or licensing, mainly for the protection of human health, consumer interests, national security, and to protect the 
environment. In principle, licensing is 
automatic and does not restrict quantity or value of imports. Cambodia intends to comply with WTO provisions in the application of preferential and non-preferential rules of 
origin and is currently preparating relevant  
regulations,  which are at an early stage of development. In 2009, with donor assistance, Cambodia began the task of drafting trade remedies legislation. The current draft, in the form of a single draft law encompassing anti-
dumping and countervailing measures and 
safeguards, is under review by an inter-ministerial drafting group.  
14. Cambodia levies export taxes on 
certain unprocessed raw materials and 
products to encourage local processing, 
encourage exports of finished products, and protect human health.  Cambodia's export duties are applied on an MFN basis and its ASEAN partners are not exempt.  Export taxes 
accounted for approximately 2% of the 
revenue collected by Customs in 2000 and less than 0.5% in 2010.  Export prohibitions are maintained mainly for reasons of health, ecological balance, security, archaeological value or the maintenance of adequate domestic 
supply. Export permits or authorizations are 
required for a number of items, including processed wood products and sand.   Cambodia has no export subsidies.   
15. At the time of Cambodia’s accession 
to the WTO, 11 state-owned companies were engaged in importati on and exportation of 
products such as rice, rubber, fertilizer, fishery products, pharmaceutical products, and agricultural equipment. Following a 
programme of divestment, the Green Trade 
Company is the only remaining state-owned enterprise involved in food import and export. 
16. Cambodia is trying to increasing 
exports via geographically defined special 
economic zones (SEZs), with the goal of 
attracting foreign direct investment.   The Government is preparing a Law on Special Economic Zones and notes that the draft law contains no export-performance measures or local-content requirements. So far, Cambodia 
has approved 22 SEZs, of which 14 have been 
established and 5 are operational, mainly in the garments, shoes, bicycles, food processing and electrical equipment industries.  
17. In acceding to the WTO, Cambodia 
drew up an action plan to  upgrade its 
standards, technical regulations, metrology, and conformity assessment capacity, as well as establish a TBT enquiry point.  The 2007 Law on Standards of Cambodia is the legal basis for all measures related to standards and 
technical regulations; the authorities 
acknowledge that there may be a need to re-examine and revise parts the law.  The 2007 law established the Institute of Standards of Cambodia (ISC), which  serves as the 
secretariat of the National Standards Council 
and is responsible for developing and issuing 
standards.  Currently, there are 71 Cambodian standards, mainly on foods, electrical appliances, and tools.  Cambodia’s policy and 
practical approach is to adopt international 
standards as Cambodian standards or technical regulations where appropriate for its economic situation. 
18. Cambodia's drive for full SPS 
compliance has been a priority during the 
review period.  A continuing challenge for 
effective SPS management is the need for relevant  ministries and agencies, in implementing their legal mandates, to minimize duplication, reduce unnecessary 
inspections, and improve reporting WT/TPR/S/253 Trade Policy Review 
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mechanisms for food safety. The problem of 
agency duplication of functions and inspections through the proliferation of subordinate legislation may have had 
detrimental effects on Cambodia’s SPS policy, 
reporting, and enforcement systems.  
However, the authorities contend that since the establishment of a 2010 regulation ( on the Implementation of an Institutional 
Arrangement of Food Safety based on a farm-
to-table approach), the definition of responsibilities has been clarified between the agencies involved.     
19. Several ministries, agencies, and 
institutions are concerned with intellectual 
property policy and enforcement .  In a 
significant step toward consolidating IPR policy-making, enforcement, and technical assistance, the Council of Ministers created the National Committee for Intellectual Property 
Management in 2008. It is responsible for 
developing national policy on intellectual property, strengthening interagency cooperation, preparing and disseminating new laws and regulations , and acting as a 
clearinghouse for technical assistance relating 
to intellectual property.  Cambodia has passed 
or is preparing a number of laws and regulations on matters such as patents, trade marks, copyright, geographical indications, and plant variety protection. Cambodia 
benefits from an extended time-limit (until 
July 2013) for the full implementation of the TRIPS Agreement.  
20.  Although no legal framework 
relating to competition policy is in place, in 
2010 the Ministry of Commerce finalized the 
terms of reference of a competition working group to oversee the drafting of a competition law.   
(4) S
ECTORAL POLICY DEVELOPMENTS  
21. Agriculture remains Cambodia's most 
important economic sector in terms of its 
contribution to both income and employment for most of the country's rural population, which accounts for about 85% of the total.  Agricultural GDP growth averaged 5.8% per annum, in real terms, during 2004-10, but 
despite this relatively strong performance, its contribution to GDP has gradually declined, from 40% in the mid-1990s to around 33% in 
2010, although it remains the primary source 
of employment for at least 70% of the population.  Raising productivity in the labour-intensive agriculture sector remains a concern in Cambodia.   
22. Exports of agricultural products are of 
little significance, according to official figures, accounting for under 6% of exports.  This is due partly to supply inconsistency, difficulties in meeting SPS requirements, and poor trade-related institutional supp ort. Most exports of 
Cambodian agricultural products are unofficial 
and are exported in a non-processed state to neighbouring countries, reflecting the very low value added of the sector.  Agricultural export subsidies are bound at zero.  Cambodia does 
not maintain or apply any export subsidies for 
agricultural products.  Regarding domestic support, Cambodia does not use either amber box or blue box measures. Expenditures for green box measures (for 2007 and 2008) mainly took the form of payments for relief 
from natural disasters.   
23. Under the motto "Rice – White Gold", 
the Government adopted a new rice policy in 2010 based on an ambitious five-year plan aimed at expanding the production and export 
of rice.  As a result of the 'Everything but 
Arms' initiative, exports of milled rice to the EU have been exempt from import duties and quotas since 2009. This preferential measure, together with the removal of licence 
requirements for milled rice exporters, and a 
doubling of the Rural Development Bank capital, has helped increase exports.  Given the country's recent success in achieving surplus rice production, including for export, the Government is intent on expanding its 
production and export capacity and becoming 
a major export nation.  
24. The manufacturing sector, which 
contributed between 14% and 19% of GDP during the review period, remains heavily 
dependent on labour-intensive garment Cambodia WT/TPR/S/253 
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production.  From the mid 1990s, the 
manufacture of clothing, mostly for export, grew rapidly and, by 2010, 319,000 workers were engaged in the sector. The garment 
industry accounts for two thirds of the 
manufacturing sector (12% of GDP) and 80% of Cambodia's export revenue.  Historically, improving labour standards and working conditions have genera lly helped garments 
exporters to maintain export contracts and 
stave off the competitive threat from other low-cost manufacturers in the region.  However, the outlook for Cambodian garment exports is clouded by structural changes in the market and to lagging competitiveness.   Unit 
prices for Cambodian garments continue to 
decrease as a result of aggressive competition, particularly from China, Viet Nam, and Bangladesh. Furthermore, growth margins in the garment industry have narrowed with the 
expiry, at the end of 2008, of safeguard 
measures imposed on China by the United States and the EU.  
25. Services comprise nearly 40% of the 
Cambodian economy and their importance should increase as Cambodia develops, 
although in recent years the share of services 
in total output has remained stagnant. Because of the importance of tourism, one of the main drivers of Cambodian growth in the past decade, Cambodia is a net exporter of services. 
Tourism has emerged as a major source of 
foreign exchange earnings since stability returned to Cambodia; the main attraction is the Khmer archeological treasures in the Siem 
Reap region. Foreign visitors now number 
over 2.5 million per year, more than ten times 
the number of international arrivals in 1995. Tourism is regarded as one of the most important immediate and long-term sources of foreign exchange; it, brings in over US$1.7 billion per year and generates, directly 
and indirectly, employment opportunities for 
an estimated 300,000 people.  
26. Cambodia is also keen to develop 
crucial infrastructure services – including financial services, telecommunications and 
transport – although continuing inefficiencies 
and shortages constrain the availability of high quality services at reasonable cost.  Cambodia 
adopted a relatively liberal regime for trade in services as part of its accession to the WTO. It undertook market-access commitments across 
the broad range of services sectors, including 
74 subsectors in its schedule, many with full subsector commitments, and others with partial commitments and transition periods, such as in the telecommunications sector.    
(5) O
UTLOOK  
27. Cambodia's economic performance 
since 2004, together with the authorities' commitment to reform, should lead it toward sustained growth and poverty alleviation. However, with GDP per capita at an estimated 
US$790 in 2010, Cambodia remains a poor 
country. The Government targets economic growth of 6% a year and per capita income of nearly US$1,000 by 2013.  Maintaining solid, broad-based economic growth and a pro-poor 
policy is crucial to realizing the goal of 
reducing the poverty rate, as targeted, to 19.5% by 2015 (from 30% in 2007), in accordance with Cambodia's Millennium Development Goals.  
28. Although annual GDP growth is not 
expected to return to the highs of around 10% 
recorded before 2008, it is expected to remain strong in 2011, at around 6%, as are Cambodia's main exports, due partly to the relaxed rule of origin of the European Union 
on preferential tariffs for LDC exports to EU 
markets, which became effective on 1 January 2011. Agriculture is expected to become an increasingly important source of economic growth, in line with official plans to 
boost exports of milled rice, as the government 
seeks to develop other sources of economic growth.  In the longer run, the intensity of efforts to strengthen and simplify the legal and institutional framework for coherent policy making and to promote export and market 
diversification will largely determine the pace 
and sustainability of Cambodia's economic growth.