Knowledge sharing session for parliamentarians provides local perspective on global financial crisis

PHNOM PENH, 2 July 2009: Members of the National Assembly and the Senate today took part in a seminar outlining the potential impact of the global economic crisis on Cambodia, and looked at possible short-term responses such as social safety nets and policies to sustain long-term growth through improved competitiveness.

In one of a series of breakfast briefings designed to keep lawmakers informed on emerging issues and challenges, today’s dialogue provided attendees with an opportunity to discuss their concerns with researchers and representatives of UN agencies, and to get a better idea of how the UN is responding to the crisis. As the Parliament works to frame Cambodia’s response to the economic crisis, the UN, in coordination with the Royal Government of Cambodia and development partners, is also responding, including by supporting the development of an integrated, long-term social safety net programme.

The current economic climate provides an unprecedented opportunity to re-evaluate and build upon Cambodia’s recent achievements, and to strengthen its economic foundation for sustained development and poverty reduction. The challenge now is to prioritise reforms and incentives that will keep the country’s growth on track and ensure continued improvements in human development, especially for Cambodia’s poorest and most vulnerable. Increasing Cambodia's competitiveness is a necessity, not a choice, if the country is to sustain economic growth, reduce poverty and keep pace with its ASEAN neighbours.

“As the crisis is increasingly felt in Cambodia, today’s decisions will directly affect the economy’s future recovery. Sessions like this enable Parliamentarians to evaluate this information and act on it in their representation and oversight roles,” stated Douglas Broderick, UN Resident Coordinator and UNDP Resident Representative.

Today’s briefing presented the results of two recent UNDP Cambodia studies. The most recent is on the ongoing impact on Cambodia of the unfolding global crisis and potential mitigation measures. Findings from “Cambodia Country Competiveness,” released on 25 May, were also presented.

The event was organised with support from UNDP to assist both Houses of the Parliament – the Senate and National Assembly – to strengthen their legislative, oversight and representation functions.

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For further information, please contact: Margaret Lamb, (855) 023 216 167 (ext. 277), Mobile 012 707 457, E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it