NOVEMBER 10, 2021
The United States has a long history of commitment to combatting corruption and supporting the rule of law in Cambodia and globally. Recent developments in Cambodia, including systemic corruption, transnational organized crime, and human rights abuses, threaten both U.S. national security interests and the fundamental freedoms of people in Cambodia. U.S. officials have regularly raised these concerns with Cambodia’s leaders, but regrettably there have been no meaningful changes.
Today, the U.S. Department of State, the U.S. Department of the Treasury, and the U.S. Department of Commerce have jointly issued a business advisory to caution U.S. businesses currently operating in, or considering operating in, Cambodia to be mindful of interactions with entities involved in corrupt business practices, criminal activities, and human rights abuses.
This advisory addresses two primary areas of exposure for U.S. companies in Cambodia:
Businesses should apply appropriate due diligence to mitigate the reputational, economic, and possible legal risks associated with potential exposure to entities in Cambodia that engage in corruption, criminal activities, illicit financial activities, or human rights abuses.
Additionally, the United States Trade Representative will conduct an assessment of Cambodia’s Generalized System of Preferences (GSP) eligibility as part of a broader GSP evaluation. This assessment will be conducted following reauthorization of the program benefits and will include any new or amended eligibility criteria established by Congress.
The United States will continue to promote accountability for criminal activities, corrupt business practices, and human rights abuses through a whole-of-government effort and in close coordination with the private sector and our allies and partners.
Read the full business advisory here: https://www.state.gov/cambodia-business-advisory-on-high-risk-investments-and-interactions/.