Political parties and leaders:
Cambodian Pracheachon Party (Cambodian People's Party) or CPP [CHEA
SIM]; National United Front for an Independent, Neutral, Peaceful,
and Cooperative Cambodia or FUNCINPEC [KEV PUT REAKSMEI]; Sam Rangsi
Party or SRP [SAM RANGSI]
Political pressure groups and leaders:
NA
International organization participation:
ACCT, APT, ARF, AsDB, ASEAN, EAS, FAO, G-77, IBRD, ICAO, ICCt,
ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, Interpol, IOC, IOM, IPU,
ISO (subscriber), ITU, MIGA, NAM, OIF, OPCW, PCA, UN, UNCTAD,
UNESCO, UNIDO, UNMIS, UPU, WCO, WFTU, WHO, WIPO, WMO, WToO, WTO
Diplomatic representation in the US:
chief of mission: Ambassador EK SEREYWATH
chancery: 4530 16th Street NW, Washington, DC 20011
telephone: [1] (202) 726-7742
FAX: [1] (202) 726-8381
Diplomatic representation from the US: chief of mission: Ambassador Joseph A. MUSSOMELI embassy: #1, Street 96, Sangkat Wat Phnom, Khan Daun Penh, Phnom Penh mailing address: Box P, APO AP 96546 telephone: [855] (23) 728-000 FAX: [855] (23) 728-600
Flag description:
three horizontal bands of blue (top), red (double width), and blue
with a white three-towered temple representing Angkor Wat outlined
in black in the center of the red band; only national flag to
incorporate an actual building in its design
Economy Cambodia
Economy - overview:
In 1999, the first full year of peace in 30 years, the government
made progress on economic reforms. The US and Cambodia signed a
Bilateral Textile Agreement, which gave Cambodia a guaranteed quota
of US textile imports and established a bonus for improving working
conditions and enforcing Cambodian labor laws and international
labor standards in the industry. From 2001 to 2004, the economy grew
at an average rate of 6.4%, driven largely by an expansion in the
garment sector and tourism. With the January 2005 expiration of a
WTO Agreement on Textiles and Clothing, Cambodia-based textile
producers were forced to compete directly with lower-priced
producing countries such as China and India. Although initial 2005
GDP growth estimates were less than 3%, better-than-expected garment
sector performance led the IMF to forecast 6% growth in 2005. Faced
with the possibility that its vibrant garment industry, with more
than 200,000 jobs, could be in serious danger, the Cambodian
government has committed itself to a policy of continued support for
high labor standards in an attempt to maintain favor with buyers.
The tourism industry continues to grow rapidly, with foreign
visitors surpassing 1 million for the year by September 2005. In
2005, exploitable oil and natural gas deposits were found beneath
Cambodia's territorial waters, representing a new revenue stream for
the government once commercial extraction begins in the coming
years. The long-term development of the economy remains a daunting
challenge. The Cambodian government continues to work with bilateral
and multilateral donors, including the World Bank and IMF, to
address the country's many pressing needs. In December 2004,
official donors pledged $504 million in aid for 2005 on the
condition that the Cambodian government implement steps to reduce
corruption. The major economic challenge for Cambodia over the next
decade will be fashioning an economic environment in which the
private sector can create enough jobs to handle Cambodia's
demographic imbalance. More than 50% of the population is 20 years
or younger. The population lacks education and productive skills,
particularly in the poverty-ridden countryside, which suffers from
an almost total lack of basic infrastructure. Fully 75% of the
population remains engaged in subsistence farming.
GDP (purchasing power parity):
$34.08 billion (2005 est.)
GDP (official exchange rate):
$4.729 billion (2005 est.)