U.S. seeks bilateral investment with Cambodia

   The White House on Friday said the United States and Cambodia have agreed to start exploratory discussions on a potential bilateral investment treaty.
   The announcement follows a meeting in Siem Reap between U.S. Trade Representative Ron Kirk and Cambodian Economic Minister Cham Prasidh, who is also presiding over ministerial meetings of the Association of Southeast Asian Nations (ASEAN) this week.
   Both countries will now discuss their respective investment policies and agreements to determine key similarities and differences.
   “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 in a statement. “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 for the treatment of investors. The United States has more than 40 of these treaties in force.