Cambodia
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Introduction
The Trade Policy Review Mechanism (TPRM) was first established on a trial basis by the GATT contracting parties in April 1989. The Mechanism became a permanent feature of the World Trade Organization under the Marrakesh Agreement which established the WTO in January 1995.
Report by the WTO Secretariat
Since 2011 Cambodia’s real GDP growth has been strong averaging over 7% annually. Construction manufacturing (mainly garments exports) and to a lesser extent tourism-related services have been the drivers of growth. Economic growth has been inclusive and widespread resulting in declining inequality and poverty levels. Prudent macroeconomic management has resulted in moderate inflation a stable exchange rate relatively low unemployment and manageable external debt levels. However the informal nature of a large portion of the Cambodian economy which is largely based on services followed by agriculture implies that GDP is significantly underestimated and that it undermines the effectiveness of government policy.